Among those risks are the energy crisis, the risk of financial fragmentation between northern and southern Europe, and liquidity risks in the British bond market. Europe has been enduring a tough economic situation amid a worsening energy crisis and many more challenges. Risks facing Europe are similar to the risks facing other countries and regions, which include supply chain disruption combined with the ongoing impacts of the Russia-Ukraine conflict, said John Bryson, a professor at Birmingham Business School, University of Birmingham. Europe is turning to Africa in a bid to replace Russia’s natural gas as the continent grapples with the ongoing energy crisis. Another recent report of Capital Economics says the eurozone "risks turmoil even if governments stay responsible."

Source: ABC News October 12, 2022 14:10 UTC