The President of the European Bank for Reconstruction and Development has warned of a “much more serious economic impact” on the EU if the war in the Middle East escalates after diplomatic efforts between the US and Iran to reach a deal fell flat.
Speaking to Euronews on Monday, Odile Renaud-Basso, who has led the multilateral development bank since 2020, said that while the current scenario in the Middle East risks curbing growth and increasing inflation in the economies in which the EBRD operates, the economic repercussions of a drawn-out war will be “wider and more significant.”
