Marc Raisière, boss of Belfius, one of the three largest Belgian banks, was the guest of RTL info Signatures this Wednesday, October 2. He notably mentioned the economy in Belgium in the midst of a particularly tense global geopolitical situation.
What could be the consequences for Belgium of the current tensions between Israel and Iran? Marc Raisière, boss of Belfius, admits that “financial markets do not like this type of uncertainty”also mentioning “the war in Ukraine and the uncertainty linked to the elections, whether American or in the majority of European countries.”
If the conflict in the Middle East comes “to fester”the economy could feel the effects. This could happen through “an increase in the price of oil, no doubt” and more generally “an increase in energy”. The price of gold and the value of gold, for its part, “will continue to increase.” “It has gained more than 30% since the start of the year,” specifies Marc Raisière. Also, according to the boss of Belfius, the stock markets, which have increased significantly since the start of the year, “are likely to see their risk premiums increase”.
But Marc Raisière tempers and nuances. “As long as the conflict does not widen into a real long-term war, I believe that energy will be under control.” Also, the economist indicates that, despite current tensions, “financial markets remain extremely calm, to our great surprise.” The translation of this observation would be that financial markets believe that the conflict between Iran and Israel “won’t last”concludes Christophe Deborsu’s guest.
signatures rtl info signatures belfius bank Tensions in the Middle East
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