Estonia’s central bank, the Bank of Estonia, has recommended that residents keep about a week’s worth of cash at home, ERR reports. Rainer Olt, head of payment and settlement systems at the Bank of Estonia, stressed that cash reserves were necessary in case of disruptions to electronic payment systems. Around 8% of Estonians prefer to pay for their purchases in cash, while around two thirds of all card payments in Estonia are made using Visa or Mastercard cards, Olt noted. He urged also residents to prepare for the introduction of the digital euro, which would guarantee the security of everyday payments and ensure independence from foreign payment systems. Meanwhile, the Lithuanian central bank is considering the introduction of offline payments, LRT reports. Gediminas Simkus, governor of the Bank of Lithuania, said that the system would allow households to buy essential goods for a week up to a certain total sum. Moreover, the central bank wants local banks to open more ATMs and branch offices in the country’s regions.
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