net_left Phương Thức Thanh Toán

Exclusive-Germany steps up emergency cash plans to cope in blackout - sources

15 Tháng Mười Một 2022

By Tom Sims, Marta Orosz and John O'Donnell

FRANKFURT (Reuters) - German authorities are stepping up preparations for emergency cash deliveries in case of a blackout to keep the economy running, four people involved said, as the nation braces for possible power cuts arising from the war in Ukraine.

The plans include the Bundesbank, Germany's central bank, hoarding extra billions to cope with a surge in demand, and possible limits on withdrawals, one of the people said.

Officials and banks are also looking at distribution, discussing for example priority fuel access for cash transporters, said others, commenting on preparations that accelerated in recent weeks after Russia throttled gas supplies.

The planning discussions involve the central bank, its financial market regulator BaFin, and multiple financial industry associations, said the people, some of whom spoke on condition of anonymity about plans that are private and in flux.

Although German authorities have publicly played down the likelihood of a blackout, the discussions show both how seriously they take the threat and how they struggle to prepare for potential crippling power outages caused by soaring energy costs or even sabotage.

They also underscore the widening ramifications of the Ukraine war for Germany, which has for decades relied on affordable Russian energy and now faces double-digit inflation and a threat of disruption from fuel and energy shortages.

Access to cash is of special concern for Germans, who value the security and anonymity it offers, and who tend to use it more than other Europeans, with some still hoarding Deutschmarks replaced by euros more than two decades ago.

Roughly 60% of everyday purchases are paid in cash, according to a recent Bundesbank study that found Germans, on average, withdrew more than 6,600 euros annually chiefly from cash machines.

A parliamentary report a decade ago warned of "discontent" and "aggressive altercations" in case citizens were unable to get their hands on cash in a blackout.

There was a rush for cash at the beginning of the pandemic in March 2020, when Germans withdrew 20 billion more euros than they deposited. That was a record, and it worked without a hitch.

But a potential blackout raises new questions about possible scenarios, and officials are intensively revisiting the issue as the energy crisis in Europe's largest economy deepens and winter nears.

If a blackout struck, one option for policymakers could be to limit the amount of cash individuals withdraw, said one of the people.

The Bundesbank processes cash moving through Germany's shops and economy, removing fakes and keeping circulation orderly. Its massive stocks make it ready for any spike in demand, that person said.

NO JUMPING THE LINE

One weakness that planning exposed involves security firms that transport money from the central bank to ATMs and banks.

The industry, which includes Brinks and Loomis, is not fully covered by law guiding priority access to fuel and telecommunications during a blackout, according to the industry organization BDGW.

"There are big loopholes," said Andreas Paulick, BDGW director. Armoured vehicles would have to line up at petrol stations like everyone else, he said.

The organization hosted a meeting last week with central bank officials and lawmakers to press its case.

"We must preventively tackle the realistic scenario of a blackout," Paulick said. "It would be totally naive to not talk about this at a time like now."

More than 40% of Germans fear a blackout in the next six months, according to a survey last week published by Funke Mediengruppe.

Germany's disaster office said it recommended people keep cash at home for such emergencies.

German financial regulators worry that banks are not fully prepared for major power outages and view it as a new, previously unforeseen risk, said an official with direct knowledge of the matter.

Banks consider a full-scale blackout "improbable", according to Deutsche Kreditwirtschaft, the financial sector's umbrella organization. But banks nevertheless are "in contact with the relevant ministries and authorities" to plan for such a scenario.

It said finance should be considered as critical infrastructure if energy is rationed.

At times politics can get in the way of blackout planning.

In Frankfurt, Germany's banking capital, one city council member proposed requiring it to present a blackout plan by Nov. 17.

The politician, Markus Fuchs of the right-wing AfD party, told the council it would be irresponsible not to plan for one. But the other parties rejected the proposal, accusing Fuchs and his party of inciting panic.

Fuchs later said in a phone interview: "If we found a solution for world peace, it would be rejected."

The issue also underscores the dependence of commerce on technology, with transactions increasingly electronic, and where most cash machines have no emergency power source.

Cash would be the only official payment method that would still work, said Thomas Leitert, chief of KomRe, a company that advises cities on planning for blackouts and other catastrophes.

"How else will the ravioli cans and candles be paid for?" Leitert said.

He said that he has long been warning authorities of blackout risks but that planning has been inadequate.

Để lại bình luận
Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
08-12-2022 16:06:38 (UTC+7)

EUR/USD

1.0515

+0.0010 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.0515

+0.0010 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.2179

-0.0020 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

USD/JPY

136.84

+0.23 (+0.17%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (4)

AUD/USD

0.6718

-0.0003 (-0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

USD/CAD

1.3685

+0.0034 (+0.25%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

EUR/JPY

143.88

+0.38 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (7)

EUR/CHF

0.9889

+0.0008 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

Gold Futures

1,794.65

-3.35 (-0.19%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (1)

Silver Futures

22.892

-0.030 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

Copper Futures

3.8712

+0.0107 (+0.28%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (5)

Crude Oil WTI Futures

72.31

+0.30 (+0.42%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

77.28

+0.11 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Natural Gas Futures

5.778

+0.055 (+0.96%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

US Coffee C Futures

160.00

-3.50 (-2.14%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (4)

Euro Stoxx 50

3,919.85

-1.05 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

S&P 500

3,933.92

-7.34 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

DAX

14,251.05

-10.14 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,476.55

-12.64 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Hang Seng

19,450.23

+635.41 (+3.38%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (1)

Sell (5)

US Small Cap 2000

1,806.90

-5.67 (-0.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

IBEX 35

8,267.18

-23.32 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

BASF SE NA O.N.

47.175

-0.250 (-0.53%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

Bayer AG NA

52.53

-0.27 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Allianz SE VNA O.N.

204.05

+0.40 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (9)

Adidas AG

116.28

-1.28 (-1.09%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (6)

Sell (1)

Deutsche Lufthansa AG

7.703

+0.064 (+0.84%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

Siemens AG Class N

133.1

+0.20 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (0)

Deutsche Bank AG

9.96

-0.006 (-0.06%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

 EUR/USD1.0515↑ Sell
 GBP/USD1.2179↑ Sell
 USD/JPY136.84Neutral
 AUD/USD0.6718↑ Sell
 USD/CAD1.3685↑ Buy
 EUR/JPY143.88↑ Sell
 EUR/CHF0.9889↑ Sell
 Gold1,794.65Neutral
 Silver22.892↑ Sell
 Copper3.8712Neutral
 Crude Oil WTI72.31↑ Sell
 Brent Oil77.28↑ Sell
 Natural Gas5.778↑ Sell
 US Coffee C160.00Neutral
 Euro Stoxx 503,919.85↑ Sell
 S&P 5003,933.92↑ Buy
 DAX14,251.05↑ Sell
 FTSE 1007,476.55↑ Sell
 Hang Seng19,450.23Neutral
 Small Cap 20001,806.90↑ Buy
 IBEX 358,267.18↑ Sell
 BASF47.175Neutral
 Bayer52.53↑ Sell
 Allianz204.05↑ Sell
 Adidas116.28↑ Sell
 Lufthansa7.703Neutral
 Siemens AG133.1↑ Buy
 Deutsche Bank AG9.96↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,660/ 6,730
(70/ 70) # 1,592
SJC HCM6,635/ 6,715
(25/ 25) # 1,582
SJC Hanoi6,635/ 6,717
(25/ 25) # 1,584
SJC Danang6,635/ 6,717
(25/ 25) # 1,584
SJC Nhatrang6,635/ 6,717
(25/ 25) # 1,584
SJC Cantho6,635/ 6,717
(25/ 25) # 1,584
Cập nhật 08-12-2022 16:06:40
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,782.90-4.27-0.24%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.83024.300
RON 95-III22.70023.150
E5 RON 92-II21.67022.100
DO 0.05S23.21023.670
DO 0,001S-V25.19025.690
Dầu hỏa 2-K23.56024.030
ↂ Giá dầu thô thế giới
WTI$72.67+0.090.12%
Brent$77.67-0.09-0.12%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.590,0023.900,00
EUR24.346,9225.709,69
GBP28.219,9229.422,64
JPY168,78178,68
KRW15,5718,97
Cập nhật lúc 16:04:19 08/12/2022
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán