In the years that followed, as a legacy of the debt crisis, banks in those vulnerable countries entered a drawn-out process of deleveraging aimed at shedding the most risky components of their balance sheets: loans to the economy. This, once more, impeded transmission of the stimulus introduced by OMTs and by the liquidity operations to the real economy.
[1] Increasingly, cyber criminals are launching ransomware attacks and demanding payment in crypto. Cyberattacks related to geopolitical developments – Russia’s aggression against Ukraine in particular – have also become a more common feature of the cyber-threat landscape.