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The European Central Bank (ECB) has said that financial conditions in the eurozone have worsened due to the war in Ukraine, DW reports.

The conflict has driven up energy and commodity prices and increased the risks of inflation and economic growth.

“The terrible war in Ukraine has brought immense human suffering,” ECB Vice-President Luis de Guindos said. “It has also increased financial stability risks through its impact on virtually all aspects of economic activity and financing conditions.”

According to the ECB, vulnerabilities could increase due to the uncertain nature of the conflict.

The ECB proposed a more efficient capital buffer structure to improve the ability of financial institutions to absorb losses.

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