HR/VP JOSEP BORRELL: HOW HIS MIND WORKS »

Josep Borrell: "Many voices are warning of the recession that the war against Ukraine could cause. The war against Ukraine has been accompanied by a sharp rise in inflation which is leading to significant increases in interest rates. We have also observed in recent weeks a rapid fall in share prices on financial markets and a spectacular loss of value on cryptocurrencies. This could trigger a new financial crisis. But faced with bleak economic outlook, we should avoid false solutions. We must keep trade open, as trade barriers would only worsen affordability and have an asymmetrical impact on the poor. We should help stimulate local production. . ."