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ARTICLE · 01 SEPTEMBER 2020

ECB Financial Stability Review

Dillon Eustace
Dillon Eustace
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The ECB recently published its Financial Stability Review (the "Review") which highlights how Europe's economic and financial policymakers have, where possible...

IrelandFinance and Banking
Conor Keaveny
Conor Keaveny
Conor Kiernan
Conor Kiernan
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Overview

The ECB recently published its Financial Stability Review (the "Review") which highlights how Europe's economic and financial policymakers have, where possible, attempted to reduce the near-term economic damage caused by the COVID-19 pandemic, while also attempting to minimise medium to long-term damage and assist in a speedier European economic recovery as the virus recedes.

A preliminary scenario analysis carried out by the ECB suggests a decrease in GDP this year in the euro zone of between 5% and 12%. This contraction reflects the impact of the public health measures used to contain the spread of the Coronavirus, which has curtailed demand and production globally. To counteract extensive negative effects to the public and to businesses, two of the measures that the European Commission undertook was the launch of a support scheme by way of a pan-European guarantee fund to support SMEs via the European Investment Bank and separately, pandemic

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