Stepping up to challenges, building a resilient Europe
The EU has faced two black swan events in the past years: the Covid-19 pandemic and the war in Ukraine. During the Covid crisis, banks helped families and businesses navigate the unexpected and proved to be solid and reliable partners for Europe’s regulators and authorities. The Russian invasion of Ukraine has now triggered a devastating humanitarian crisis and ushered in a new economic and geopolitical reality. The aftershocks of Russia’s attack continue to reverberate across Europe and the world, including the banking community.
Looking to the future, the situation will remain challenging. According to the latest forecast by the European Commission, growth in the EU economy will be lower, and inflation higher. Now more than ever, our focus must be on building a resilient economy that serves all businesses and people. To help finance this, banks need a future-focused regulatory framework and rules based on a clear, long-term vision that serves the needs of European citizens and economy.