In a speech at the Central Bank of Ireland's Financial System Conference in Dublin, ECB Vice-President Boris Vujčić argued that Europe should keep its openness by building resilience rather than retreating from the world. He said geopolitical shocks are becoming more frequent and can affect growth, inflation and financial stability, with supply factors playing a role in major shocks in 2020, 2022 and 2026. He noted that diversifying energy supplies alone could not protect Europe, since how well economies absorb shocks matters as much as their exposure. The EU imports 57% of its energy, and in 2022 electricity prices for firms rose far more and stayed high longer in Italy than in Spain, partly because Spain generates more power from renewables. He added that Europe's energy supply is already more resilient than in 2022.
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Related tickers and likely impact
EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/30/2026 | 1.11601 |
| Change that session | -0.20% |
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