Climate change and the risks to the financial sector In Europe, southern countries like Italy will be most affected by the expected consequences of climate change, which pose new risks for the real economy and for the stability of the financial sector.
Much of this rapid growth reflects the continued bounce back in activity from depressed levels. The sectors most adversely affected by the pandemic remain weak, but have shown improvement. Household spending is rising at a rapid pace, boosted by the ongoing reopening of the economy, fiscal support, and accommodative financial conditions.