ECB’s Guindos Warns Financial System Still Facing Trade Risk

European Central Bank Vice President Luis de Guindos cautioned that the recent trade turmoil could still upend the region’s financial system, which has so far weathered the fallout from the abrupt shifts in US policy.

Describing financial stability in the euro zone as “sound,” Guindos highlighted that the 20-nation bloc remains at particular risk from tariffs due to its deep integration into global supply chains. He listed deregulation and reduced international cooperation as other dangers.