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Strong balance sheets keep global banks on stable outlook despite macroeconomic gloom
Moody's Talks - Focus on Finance
Is Europe in Recession?
The Russia-Ukraine conflict is sent oil and gas prices through the roof. As a result we expect Europe to slip into recession next year. Germany has also an additional challenge compared with some of its European peers because they have a large stock of long-term fixed rate lending base. And of course German banks still have a chronically high cost base which will be hit by high inflation and limits flexibility.
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