ECB Official Warns of Recession Risk if Oil Tops $150
ECB official Yannis Stournaras warned today that Europe faces recession risks if oil tops $150 per barrel. He said the Iran conflict could impact growth.
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The European economy faces the risk of a recession if the ongoing conflict involving Iran persists and drives energy costs to extreme levels, according to European Central Bank policymaker Yannis Stournaras. Speaking on Wednesday, the central banker warned that while current projections do not foresee a downturn, a significant spike in the cost of Brent Crude Oil could change the outlook.
