President Joachim Nagel of the German Bundesbank said that his institution is well prepared for crisis scenarios, citing the recent power outage in Berlin as a clear example. “I can assure you that the Bundesbank is very well equipped for such emergencies” he told the Tagesspiegel, noting that the incident underscored the importance of payment systems as critical infrastructure.
To that end, the Bundesbank has implemented several safeguards. “Our branches across Germany supply cash within a 75‑kilometre radius” Nagel explained. Every branch is fitted with backup generators. Large facilities employ more than 100 staffers, while smaller ones have about 40. “Even if a single branch were to fail, we can still provide cash throughout Germany” he added.
The organisation also follows a comprehensive emergency plan and rehearses crisis scenarios on a regular basis. Nagel himself carries a satellite‑enabled phone in case of a network blackout. “Everyone in the bank knows exactly what to do in a borderline situation” he stressed.
Nagel criticised the continued reliance on physical cash, describing this dependence as “home‑made”. He argued that during crises we should not be bound to traditional cash. Instead, he repeatedly promoted a digital euro: “Users can keep it in their digital wallet on their phone” thereby enabling offline payments without an internet connection. “The digital euro will make us more independent and resilient”.
