ESRB欧洲系统风险委员会：2026年地缘经济碎片化带来的金融稳定风险报告（英文版）

Geoeconomic fragmentation and geopolitical risk have emerged in recent years as defining challenges for economies worldwide, profoundly reshaping the global economic and financial landscape. Heightened geopolitical tensions, trade frictions, and regulatory divergence have created a world where political and economic spheres are increasingly intertwined. These developments have transformed the nature of uncertainty faced by policymakers and financial institutions, as geopolitical shocks transm