“My view on this matter is that it is too early to know the repercussions,” Makhlouf said after a meeting in Nicosia with Cypriot Finance Minister Makkis Keravnos.
He continued, “We are monitoring developments closely because they are bound to have economic impacts on us to some extent.”
World Bank President Ajay Banga warned on Tuesday that the war between Israel and Hamas could deal a “serious” blow to global economic development, as the confrontation, which he fears could turn into a broader regional conflict, enters its third week.
Banga said during the annual conference of the Future Investment Initiative in Saudi Arabia that he believes that “what happened recently in Israel and Gaza (…) will have a more serious impact on economic development,” and added, “I think we are facing a very dangerous turning point.”
He added, “The (10-year US Treasury bond yield) exceeded five percent for a brief period yesterday, and these are areas that we did not see.”
#European #Central #Bank #monitoring #Middle #East #crisis #assess #effects