BIS central bankers’ speeches  7  discussion on how to reinforce common decision-making over fiscal policies and strengthen accountability arrangements. In other words, this could only take place in the context of a decisive step towards closer Fiscal Union.
For example, if no further policies are introduced to mitigate climate change, the most vulnerable 10% of banks may see a 30% increase in the average probability of default of their credit portfolios between now and 2050. Conclusion Let me conclude. Banks have fulfilled their vital role of lending to the real economy during the pandemic.