The economic shock for Europe

Thursday 3 March 2022

Nordea with the note.

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Due to the huge uncertainty prevailing we drafted three scenarios for the economic consequences of the Russian attack. While uncertainty is high, we think the bar is high for the ECB to fully abandon the plans of policy normalization.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.