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Parliamentary questions
30 June 2017
E-004390-17
Question for written answer
to the Commission
Rule 130
Neena Gill (S&D)

 Subject:  Risk of financial crisis in Asia
 Answer(s) 

In its recent annual report, the Bank for International Settlements (BIS) warned that China and other developing economies such as Thailand are starting to show signs of tensions similar to those seen in the US and UK before the financial crisis of 2007-2008. Leading indicators of financial distress point to financial booms that in a number of economies look qualitatively similar to those that preceded the global financial crisis.

Does the Commission share the concerns of the BIS, and what is its assessment of the level of preparedness of the European economy to weather such a financial crisis originating in Asia?

How does the Commission estimate the impact and effects of a potential financial crisis in Asia on systemic banks in the EU?

Is the Commission planning to review its policy towards economies such as China, Thailand and Hong Kong in view of the warnings expressed in the BIS report, in particular with regard to substantial investments made by Chinese state-linked enterprises in strategic EU companies?

Last updated: 13 July 2017Legal notice