Sweden’s central bank is urging citizens to keep physical cash at home in preparation for possible war, cyberattacks, or major disruptions to the financial system. The Riksbank has advised every adult to hold at least 1,000 kronor in cash—roughly $110—along with multiple bank cards and access to digital payment services. Officials say these measures will help citizens purchase essential goods such as food and medicine if electronic payment systems fail during a national emergency.

The warning highlights a growing concern across Europe that highly digitized economies may be vulnerable during times of crisis. Sweden, one of the world’s most cashless societies, now sees only about one in ten transactions conducted with physical currency. Authorities fear that cyberattacks, power outages, or wartime disruptions could paralyze digital financial networks. Similar preparedness recommendations have already been issued in neighboring Finland and Norway as governments across the region prepare their populations for the possibility of conflict or infrastructure attacks.

SOURCE: Bloomberg