Cash needed for resilience, say eurozone central banks
Institutions from Austria, Germany and Spain outline why hard currency remains key
The central banks of three eurozone members have underlined why cash is crucial to ensuring stability in payments.
Speaking today (April 29) at the Global Currency Forum, Burkhard Balz, a member of the Deutsche Bundesbank board, said public money in the form of cash and central bank digital currency were both essential to modern states’ resilience.
Balz used his address to speak of the “banknote paradox” – the fact that despite the declining use of cash in most countries over the past three
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