Integrating contagion risk into the 2025 EU-wide stress test: a system-wide analysis with amplification effects between ...
Prepared by Alberto Grassi, Michael Kosiahn, Chiara Lelli, María Losa Martín, Michael Moers, Matthias Sydow, Michael Vincent and Garbrand Wiersema. Published as part of the Macroprudential Bulletin 32, November 2025. This article expands on the 2025 EU- …