Europe's watchdog for systemic economic risk last week issued an unprecedented warning about "severe" threats to European financial stability.
Energy inflation and higher borrowing costs have increased the risk of recession which, in combination with the uncertainty caused by the Russian invasion of Ukraine, could spill over and cause a full-blown financial crisis, the agency warned on Thursday (29 September).
It was the first "general warning" the European Systemic Risk Board (E...
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Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.