“If you destroy nature, you destroy the core on which our economies depend. And that got people’s attention. This is not some kind of a flower-power, tree-hugging exercise. This is core economics. This is core financial stability, core price stability.”

Frank Elderson, a member of the European Central Bank’s executive board

#ClimateBreakdown
#EcosystemCollapse
#Economics

theguardian.com/business/2026/…

ECB official warns climate crisis poses growing threat to ‘core financial stability’

Exclusive: As wildfires rage across Europe, Frank Elderson tells the Guardian nature loss poses a growing risk to the global economy

^{Richard Partington (The Guardian)}