Olga Gouveia is Principal Economist in the Financial Systems Unit in BBVA Research with focus on the analysis of European Financial Systems.Previously, Olga Gouveia worked in Moody's as Vice-President Senior Analyst at FIG, with leading analytical responsabilities for the ratings of Spanish and Portuguese banks.Prior to that she worked as an Analyst and Associate in BPI Private Equity in Oporto.She obtained a Degree in Economics from the University of Oporto, in Portugal in 1998 and an International MBA from IE Business School in 2003.
In the latest report on financial stability in the eurozone, the European Central Bank (ECB) analyzes the main vulnerabilities and risks, warns about the uncertainty in the macroeconomic and financial environment and its impact on the different economic agents.
This year had started off very well for banks. In fact, the share price of banks in the eurozone had risen by 20% by Wednesday, March 8; however, in one week these gains have been wiped out. The failure of three banks in the US and the sale of Credit Suisse to UBS have caused turbulence in the global banking system.
2022 has been a year of transition for banking. It started off with a lot of dynamism, as the economic recovery was expected to consolidate, leaving the pandemic behind us. But the war initiated by Russia in Ukraine radically changed the course of events.