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Rising Populism Poses Greatest Risk to European Financial Recovery - Moody’s

© AFP 2023 / EMMANUEL DUNANDA sign for Moody's rating agency is displayed at the company headquarters in New York
A sign for Moody's rating agency is displayed at the company headquarters in New York - Sputnik International
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Moody’s Investors Service said in a poll that a financial crisis spurred by the rise of populism in Europe poses the greatest risk to the region’s economic recovery.

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WASHINGTON (Sputnik) A financial crisis spurred by the rise of populism in Europe poses the greatest risk to the region’s economic recovery, Moody’s Investors Service said in a poll released on Thursday.

"The return of a euro area crisis on the back of populist election wins in key countries is the biggest risk to Europe's economic recovery…says the majority of attendees polled at Moody's recent Credit Trends conference series," Moody’s stated.

On average, 63 percent of respondents said the return of a euro area crisis was their greatest concern. The sentiments were highest in western Europe with 79 percent in Amsterdam, 68 percent in London and 58 percent in Paris expressing concern.

Additionally, 45 percent of respondents in Oslo, Norway said protectionism following the US election was the greatest risk.

In about half the cities polled, respondents said a hard landing, or sharp economic downturn, in China was their biggest concern.

The poll was conducted during Moody’s Credit Trends conference series from mid-January through February in 16 cities across Europe.

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