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Assessing the Risk of SARS-CoV-2 Transmission via Euro Cash – ECB

Categories : Cash and Crises, Cash generates security, Hygiene
August 15, 2021
Tags : Banknote/Note, Cash, Europe, Hygiene, Safety
A recent ECB paper assesses changes in cash circulation during the Covid-19 pandemic and examines the role of cash as a possible transmission vector of the SARS-CoV-2 virus.
Manuel A. Bautista-González

Columbia University in the City of New York

This post is also available in: Spanish

July 2021 paper by Barbora Tamele, Alejandro Zamora-Perez et al. for the European Central Bank (ECB) assessed changes in cash circulation during the Covid-19 pandemic. The authors also examined the role of cash as a possible transmission vector of the SARS-CoV-2 virus. We examine this paper’s findings in two articles:

The Use of Cash in the Euro Area during the Covid-19 Pandemic

This post summarizes the findings in the first part of the paper relating to the increase in the circulation of cash in the euro area during the Covid-19 pandemic, associated with the so-called cash paradox: the European public is holding more cash for precautionary purposes, even though Europeans use less cash to realize transactions. The post also examines the data from the ECB IMPACT survey (July 2020) on the impact of the Covid-19 pandemic on cash usage in the Euro area.

ECB: Cash is “Safe to Use,” Despite the SARS-CoV-2 Virus

This post summarizes the findings relating to the second part of the paper, which conclusively asserts that “the risk of transmission [of Covid-19] via banknotes and coins is very low, and that cash is safe to use” (Tamele, Zamora-Pérez et al. 2021: 27).

This post is also available in: Spanish

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