Speech (virtual) by Mr Pablo Hernández de Cos, Governor of the Bank of Spain, organised by Goldman Sachs, 25 April 2022.
Ladies and gentlemen, good morning.
Let me begin by thanking the organisers of this event, Goldman Sachs, for their kind invitation. I will start by sharing some brief reflections on the current economic situation in the euro area, which is still influenced by the course of the pandemic – in particular due to the recent increases in coronavirus (COVID-19) infections in some parts of the world-, and at the same time dominated by another extraordinary and devastating event, the invasion of Ukraine by Russia. In addition to being a human tragedy for the Ukrainian people, the consequences of this invasion are difficult to predict, but are expected to be global in nature and far-reaching, both geopolitically and economically.
