The financial system will not collapse

The global financial system will not collapse from the turbulence caused by the demise of Silicon Valley Bank, Signature Bank and the problems facing Credit Suisse, as governments and the relevant international institutions have learned from the past; however, there will be further problems in the markets, as high inflation makes it difficult to manage the situation, the president of Eurasia Group, Ian Bremmer, told Kathimerini.

For the United States in particular, Bremmer believes it could face a sharp credit-driven recession that will weaken the economy between now and the 2024 election. At the same time, he notes that Russia, for its part, views any crisis that affects the capabilities of the West as positive, while China, given its size and role in the global economy, does not want to disrupt stability, but at the same time sees opportunities in the West's weaknesses.