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ECB’s de Guindos warns financial markets are vulnerable to a sharp sell-off
Financial markets could face a sharp downturn in the event of any further shocks to the global economy, European Central Bank Vice-President Luis de Guindos told CNBC on Wednesday. Earlier on Wednesday, the ECB published its May Financial Stability Review, saying that the euro area’s stability outlook remained fragile in the aftermath of recent turmoil in the banking sector, which saw the failure of several U.S. regional banks and the emergency takeover of Credit Suisse by UBS. Although it determined that bank resilience in a higher interest rate environment was not a concern in the euro area, with fundamentals ... (full story)