If the recent blackouts weren’t sufficient warning to rely excessively on your credit and debit cards, this recent announcement by the Spanish government effectively limiting cash withdrawals to EUR 3,000 should catch your attention:
New rules in Spain: cash withdrawals over €3,000 under strict control. From now on, anyone withdrawing €3,000 or more from a Spanish bank must notify the Agencia Tributaria (Spain’s tax agency) in advance. If you’re planning to take out €100,000 or more, you’ll need to give at least 72 hours’ notice. For smaller sums over €3,000, a 24-hour notification is mandatory. The warning must be filed through the tax agency’s official website using a digital certificate, Cl@ve PIN, or electronic ID card. You’ll receive a receipt that must be shown at the bank when withdrawing your cash.
Translation: there may be a significant bank failure on the horizon that will inspire bank runs and other financial issues. I don’t think this is about trying to push everyone toward the cashless society, not so soon after the blackouts there when all the cards were useless.