When shocks collide: AI, war and financial stability – In Conversation with John Fell

Source: European Central Bank (video statements)

War in the Middle East, soaring energy prices and upside risks to inflation are clouding the financial stability outlook for the euro area.

How resilient are banks and markets? Are investors underestimating geopolitical risks? And how exposed is the financial system to stretched asset valuations? In this episode of Euro Matters, Paul Gordon speaks with John Fell about these questions and more.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Further reading
Financial Stability review at a glance
https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/index.en.html

Financial Stability Review, May 2026
https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/ecb.fsr202605~50566915a7.en.html

ECB Instagram
https://www.instagram.com/europeancentralbank

https://www.youtube.com/watch?v=korG2vJj1OI

Session 6 – Flash presentations by young economists

Source: European Central Bank (video statements)

Flash presentations by young economists

Monetary Policy in the Euro Area, when Phillips Curves … Are Curves
Alexandre Carrier, European Central Bank

Optimal Debt Policy and Liquidity Taxation
Ethan McClure, Federal Reserve Bank of Boston

Discretionary Spending is the Cycle, and Why it Matters for Monetary Policy
Chiara Vergeat, London Business School

https://www.youtube.com/watch?v=NEG1ARMhJzU