European Supervisory Authorities highlight key risks in gloomy times
Earlier this month, the three European Supervisory Authorities (EBA, EIOPA, and ESMA) released their first joint risk assessment report for 2022 meant to shed light on the complicated European economic outlook and the new and existing risks that could materialize for financial institutions. During 2021, the EU economy was on track for a strong recovery after the COVID-19 pandemic but new variants of the virus, rampant inflation, supply chain constrains, and geopolitical risks turned the tables around. The financial sector has proven quite resilient over the past year but the military conflict in Eastern Europe, and its broad consequences, left the door wide open for potential risks.
In this alert you will read more about the latest developments in the European economic and financial prospects.