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The ESRB, part of the ECB, issued a warning about risks to EU financial stability (Photo: Kiefer/Flickr)

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EU officials were warned of risk over issuing financial warning

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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Author Bio

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.

The ESRB, part of the ECB, issued a warning about risks to EU financial stability (Photo: Kiefer/Flickr)

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Author Bio

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.

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