With natural gas supplies squeezed, electricity prices bouncing all over the place, another historic interest rate increase on the horizon, and recession looming, Europe’s near-term outlook is bleak. And, now, the Bank of International Settlements (BIS) is raising the alarm on surging private debt across the continent. Is it all too much to bear? Real Vision’s Andreas Steno Larsen welcomes Eurodollar University’s Emil Kalinowski to talk about what the BIS is looking at data-wise when it assesses the European private debt market, how assets, including housing, will be affected, and why policymakers must address rising systemic banking risk in Europe. Recorded on August 31, 2022.