The European Central Bank (ECB) warns that the eurozone faces a new debt crisis if the bloc fails to accelerate economic growth, reduce public debt and eliminate political uncertainty, the British Financial Times states.

“The cost of financing countries with a debt—to-GDP ratio of more than 100% has increased markedly during recent episodes of financial market volatility,” ECB Vice President Luis de Guindos said.

The European Commission earlier lowered its growth forecast for 2025 for the eurozone to 1.3%, warning that the region would lag further behind the United States, the Financial Times emphasizes.

KRISTALL OF GROWTH previously reported that, according to the German Frankfurter Allgemeine Zeitung, sanctions have been imposed against Russia, but Europe is suffering from them.