aA
A financial crisis in Europe might happen in ten years at the earliest, the Swedish financial group Swedbank's chief economist says, adding that such a crisis will probably be sparked by trade conflicts, not macroeconomic factors.
Gamykla
Gamykla
© DELFI / Rafael Achmedov

"I think that a crisis can happen, of course it can happen, but it will happen if trade conflicts escalate but not because of macroeconomic fundamentals, which in Europe are still good, except for Italy," Anna Brennan said during a forum in Vilnius on Tuesday.

"If you don't get trade conflicts escalating, you are going to see nice growth for next few years," she added.

Besides trade conflicts, the situation in China and climate change are the other key risks to global economy, the economist said. Despite that, Brennan estimates that economy will slow but will not slip into recession.

"We see a lot of risks, conflicts, China and climate change, but we see a lot of business opportunities," Brennan said.

Last month, Swedbank economists cut their estimates for global economic growth for 2019 to 3.2 percent but do not expect any crisis, saying that economic growth might only slow down.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Finance Minister singles out fairness of tax system as one of key objectives

Lithuania’s Finance Minister Gintare Skaiste stressed the importance of fairness of a tax system...

SIS detains Tete-A-Tete owner Kacas as part of corruption probe (1)

Officers of Lithuania's Special Investigation Service have detained Samoilas Kacas, owner of company...

EU minimum wages grew cautiously amid COVID-19 economic uncertainty

The economic uncertainty created by the COVID-19 pandemic slowed, but did not stop, overall minimum...

Economists warn of price hikes in Lithuania

As the prices for electricity and gas are set to go up as of July in Lithuania, economists are warning...

Minister: a US technology company Space X accepted our invitation to operate in Lithuania

Minister of Transport and Communications Marius Skuodis believes that the entry of Space X founded by...

Top news

Ministry asks for EUR 11.5 mln for protection of Belarusian border

Lithuania's Interior Ministry is asking for an additional allocation of 11.5 million euros for the...

Neopagans could reapply for recognition in three months’ time (1)

Lithuania's Romuva, an ancient Baltic religious community, will be able to reapply for state...

Finance Minister singles out fairness of tax system as one of key objectives

Lithuania’s Finance Minister Gintare Skaiste stressed the importance of fairness of a tax system...

Belarus student in Vilnius: living here expanded my horizons

Electronic Business Management student Tania Krauchauka from Gomel (Belarus) calls Vilnius an...

Neringa launches culture capital events (1)

On Friday, Neringa officially launched events as part of its Lithuanian Capital of Culture 2021...