Economist Marc Touati Advises Keeping Cash at Home Amid Market Concerns

Economist Marc Touati suggested during a media appearance on Wednesday, November 4, that individuals should consider keeping between 1,000 and 2,000 euros in physical banknotes at home in the event of a stock market crash. Speaking on CNEWS, Touati outlined this specific range as a useful precaution for sudden financial market downturns, while immediately adding a cautionary limit to the practice. "You have to have some, but not too much either," he stated regarding the accumulation of physical currency.

According to Touati, holding cash beyond this specific bracket serves little practical purpose. His recommendation targets a precise crisis scenario involving a sharp drop in financial markets, though he did not specify how individuals should distribute or place their broader savings outside of this home reserve.

The figures suggested by Touati are significantly higher than standard European benchmarks. Research published by the European Central Bank in its 2025 Economic Bulletin highlights that authorities in countries like the Netherlands, Austria, and Finland suggest keeping between 70 and 100 euros per household member. This lower amount is designed to cover approximately 72 hours of essential needs during electronic payment outages.

The ECB study analyzed various historical crises, including the COVID-19 pandemic, Russia's invasion of Ukraine in February 2022, a major power outage in the Iberian Peninsula in April 2025, and the Greek debt crisis of 2014-2015. During the Greek crisis, government-mandated bank closures and capital controls led to daily limits on ATM withdrawals, causing net banknote issuances by the Bank of Greece to approach 5 billion euros in a single month in June 2015.

In France, bank deposits benefit from legal protections up to a certain threshold if an institution fails. The Deposit Guarantee and Resolution Fund protects each client up to 100,000 euros per client and per establishment, according to official regulatory guidelines. Regulated savings accounts such as Livret A, LDDS, and LEP benefit from a separate guarantee within a global limit of 100,000 euros, while funds stemming from specific life events can temporarily raise protection limits.

Meanwhile, broader economic concerns are also under scrutiny within French legislative bodies. Senate Budget Rapporteur Christine Lavarde warned during a committee presentation on Wednesday, November 4, that France faces severe fiscal fragilities and can no longer rule out a financing crisis or a recession for 2027. Lavarde criticized government growth assumptions as overly optimistic, noting that public finances are strained by debt burdens and restrictive monetary policies.

Lavarde pointed out that fiscal revenues are projected to increase by largely relying on new or extended taxes rather than structural spending cuts. With public finances under intense pressure, discussions regarding economic stability, consumer cash reserves, and institutional protections continue to draw attention from financial analysts and lawmakers alike.