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The European Central Bank (ECB) has warned that European banks' exposure to commercial real estate could threaten financial stability if the economy faces a significant shock. The ECB highlighted the potential for eroding financial stability due to banks' commercial real estate hits worsening stress. This warning comes amidst concerns of a possible recession in the Eurozone, with the Composite Purchasing Managers' Index (PMI) showing a contraction of 0.1% in November, indicating the bloc's economy is on track to decline again in the fourth quarter. The downturn in business activity eased slightly in November but remained below the key 50 mark separating contraction from growth, fueling fears of a deep recession.
Fears of recession grew for the euro zone as the PMI covering the bloc's dominant services industry rose to 48.2 from last month's 47.8 https://t.co/Y3POGMk01Y https://t.co/r9ZNgjSgYy
Euro zone is on track to decline again in the fourth quarter, PMI showed. The downturn in business activity eased this month, rising to 47.1 from October's near three-year low of 46.5, but still below the key 50 mark separating contraction from growth https://t.co/Y3POGMkxRw https://t.co/tlo9UPRMxV
WATCH: Recession fears loom large for the euro zone. The Composite Purchasing Managers' Index or the PMI showed the bloc's economy contracted 0.1% in November https://t.co/U5Q9n1fpPI https://t.co/webghmTxfv
WATCH: The downturn in euro zone business activity eased in November but remained broadbased, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending, a survey showed https://t.co/U5Q9n1fpPI https://t.co/bSdlLjqXno
Easing of eurozone business woes allays fears of deep recession https://t.co/oFHMftoXeB
⚠️ EURO ZONE BUSINESS ACTIVITY FELL AGAIN IN NOV, STOKING RECESSION FEARS -PMI Full Story → https://t.co/7GcnYezbS2 https://t.co/S9v8O1Fu8z
Eurozone Risks Recession, ECB Says https://t.co/PLIXcJiY32
This is just hilarious ECB finally acknowledges that looting bank's equity with taxes, cap requirements, divi bans, fines, etc., might be bad for the economy "Stagnant bank valuations may also be due to heightened uncertainty about shareholder access to returns earned by banks." https://t.co/bIKMoP1xhm
ECB warns banks’ commercial real estate hits could worsen stress https://t.co/5tHVo9Vhzp https://t.co/vBbEQZVvUn
European banks’ exposure to commercial real estate could erode financial stability if the economy is hit by a bigger shock, the ECB warns https://t.co/KVXNMmye3B
European banks’ exposure to commercial real estate could erode financial stability if the economy is hit by a bigger shock, the ECB warns https://t.co/kbvEHrEdws
European banks’ exposure to commercial real estate could erode financial stability if the economy is hit by a bigger shock, the ECB warns https://t.co/VIvuZG25Uj