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The European banks, and the Italian ones with them, before Moscow’s invasion of Ukraine were “in a very positive situation”. But now there are two main risks on their balance sheets: a slowdown in the economy and possible turbulence in the financial markets in the event of rapid and unexpected rises in interest rates. Andrea Enria is the president of the Supervisory Board of the European Central Bank, which is in charge of supervising the main banks in the euro area.