欧洲央行：美关税政策加剧欧元区金融风险

Group 1 - The core viewpoint of the report indicates that the financial stability vulnerabilities in the Eurozone remain high due to uncertainties surrounding trade agreements and the long-term impacts of U.S. tariff policies [1] - The report highlights that risks emanating from the U.S. have become a significant macro-financial vulnerability factor, particularly due to persistent large fiscal deficits and rising debt servicing costs [1] - Concerns regarding the credibility of U.S. fiscal policy are exacerbated by a substantial current account deficit, which undermines the safe-haven status of U.S. Treasury securities and contributes to a weakening dollar [1] Group 2 - The potential for a resurgence in trade policy uncertainty is noted, which could further impact financial stability in the Eurozone [1] - The depreciation of the dollar may amplify the effects of U.S. tariffs on Eurozone exporters, indicating a direct link between U.S. economic policies and European market conditions [1]