News

News

Friday
July, 1
More

    Will Sanctioning Russia Fuel Financial Contagion?

    CAIRO – The unprecedented sanctions imposed on Russia – which some have dubbed economic weapons of mass destruction – have globalized the Ukraine crisis, exacerbating market uncertainty and potentially derailing the post-pandemic recovery. Across Europe and elsewhere, growth forecasts for 2022 have been revised down sharply.

    Beyond dampening output and causing already high inflation to spike further, these sanctions are heightening the risk of a financial crisis. Today’s increasingly complex global financial system amplifies this danger, because the magnitude of derivatives markets and the codependency of supply chains and payment chains make contagion more likely.

    Stagflation was already a looming global threat, and the war in Ukraine has further increased the danger. The world, still grappling with the fallout from the US-China trade war and the COVID-19 pandemic, now faces its third policy-induced economic crisis in quick succession.

    To continue reading, register now.

    As a registered user, you can enjoy more PS content every month – for free.

    Register

    or

    Subscribe now for unlimited access to everything PS has to offer.

    %post_title%

    Last Mile Source

    Find us on

    Latest articles

    - Advertisement - spot_imgspot_img

    Related articles

    Plans for bigger defense budget get boost after bill...

    BOSTON — Massachusetts Gov. Charlie Baker announced Tuesday he will activate up to 500 members of the...

    Commander Craig: 007 star made honorary Royal Navy officer

    BOSTON — Massachusetts Gov. Charlie Baker announced Tuesday he will activate up to 500 members of the...

    House passes $1 billion for Iron Dome system in...

    BOSTON — Massachusetts Gov. Charlie Baker announced Tuesday he will activate up to 500 members of the...

    5 missing after Navy helicopter crashes into sea off...

    BOSTON — Massachusetts Gov. Charlie Baker announced Tuesday he will activate up to 500 members of the...

    Afghan allies who applied for special visas still in...

    BOSTON — Massachusetts Gov. Charlie Baker announced Tuesday he will activate up to 500 members of the...

    New Taliban head of security for Kabul is wanted...

    BOSTON — Massachusetts Gov. Charlie Baker announced Tuesday he will activate up to 500 members of the...