TOP FIVE RISKS IN EU COUNTRIES IN 2022

Source: Global Risks Report 2022 Executive Opinion Survey 

This Table presents the top five risks for each of the EU economies. 12,000 Leaders answered the following question: “What five risks will pose a critical threat to your country in the next two years?” and were asked to select these from a list of 35 risks, with no particular order. “Risk 1” (R1) indicates the most frequently selected risk in each economy. Where there is a tie, the tied risks are presented in the same cell. 

Austria 

R1: Climate action failure 

R2: Erosion of social cohesion 

R3: Debt crises in large economies 

R4: Digital power concentration 

R5: Prolonged economic stagnation; Extreme weather events 

Belgium 

R1: Climate action failure 

R2: Debit crises in large economies 

R3: Extreme weather events 

R4: Asset bubble bursts in large economies; Fracture of interstate relations 

Bulgaria 

R1: Human-made environmental damage 

R2: Infectious diseases 

R3: Interstate conflict 

R4: Debt crises in large economies; Employment and livelihood crises 

Croatia 

R1: Prolonged economic stagnation 

R2: Geopolitization of strategic resources 

R3: Digital inequality 

R4: Human-made environmental damage 

R5: Widespread youth disillusionment 

Cyprus 

R1: Climate action failure 

R2: Debt crises in large economies 

R3: Geopolitization of strategic resources 

R4: Asset bubble bursts in large economies; Infectious diseases; Prolonged economic stagnation 

Czech Republic 

R1: Debt crises in large economies 

R2: Collapse of a systematically important industry 

R3: Asset bubble bursts in large economies 

R4: Infectious diseases 

R5: Failure to stabilize price trajectories 

Denmark 

R1: Climate action failure 

R2: Asset bubble bursts in large economies; Infectious diseases 

R4: Failure of cybersecurity measures 

R5: Debt crises in large economies 

Estonia 

R1: Interstate conflict 

R2: Debt crises in large economies 

R3: Asset bubble bursts in large economies; Fracture of interstate relations 

R5: Human-made environmental damage 

Finland 

R1: Prolonged economic stagnation 

R2: Debt crises in large economies 

R3: Climate action failure 

R4: Asset bubble bursts in large economies 

R5: Infectious diseases 

France 

R1: Erosion of social cohesion 

R2: Debt crises in large economies; Geopolitization of strategic resources 

R4: Climate action failure 

R5: Failure of cybsersecurity measures 

Germany 

R1: Climate action failure 

R2: Erosion of social cohesion 

R3: Digital power concentration 

R4: Debt crises in large economies 

R5: Fracture of interstate relations; Geopolitization of strategic resources 

Greece 

R1: Prolonged economic stagnation 

R2: Extreme weather events 

R3: Debt crises in large economies 

R4: Interstate conflict 

R5: Digital inequality 

Hungary 

R1: Failure to stabilize price trajectories 

R2: Extreme weather events 

R3: Climate action failure 

R4: Infectious diseases 

R5: Fracture of interstate relations 

Ireland 

R1: Climate action failure; Failure of cybersecurity measures 

R3: Fracture of interstate relations 

R4: Debt crises in large economies; Prolonged economic stagnation 

Italy 

R1: Climate action failure; Debt crises in large economies 

R3: Extreme weather events 

R4: Geopolitization of strategic resources 

R5: Digital inequality 

Latvia 

R1: Interstate conflict 

R2: Asset bubble bursts in large economies 

R3: Digital inequality 

R4: Debt crises in large economies; Prolonged economic stagnation 

Lithuania 

R1: Interstate conflict 

R2: Severe commodity shocks 

R3: Asset bubble bursts in large economies; Failure of cybersecurity measures 

R5: Human-made environmental damage 

Luxembourg 

R1: Asset bubble bursts in large economies 

R2: Climate action failure; Debt crises in large economies 

R4: Digital inequality; Fracture of interstate relations 

Malta 

R1: Human-made environmental damage 

R2: Collapse of a systematically important industry 

R3: Proliferation of illicit economic activity 

R4: Failure of cybersecurity measures 

R5: Asset bubble bursts in large economies 

Netherlands 

R1: Climate action failure 

R2: Erosion of social cohesion; Asset bubble bursts in large economies 

R3: Failure of cybersecurity measures 

R4: Asset bubble bursts in large economies 

R5: Debt crises in large economies 

Poland 

R1: Human-made environmental damage 

R2: Infectious diseases 

R3: Interstate conflict 

R4: Fracture of interstate relations; Prolonged economic stagnation 

Portugal 

R1: Prolonged economic stagnation 

R2: Debt crises in large economies 

R3: Employment and livelihood crises 

R4: Digital inequality 

R5: Collapse or lack of social security systems 

Romania 

R1: Human-made environmental damage 

R2: Employment and livelihood crises 

R3: Debt crisis in large economies; Geopolitization of strategic resources 

R5: Large-scale involuntary migration 

Slovakia 

R1: Collapse of a systematically important industry 

R2: Collapse or lack of social security systems 

R3: Debt crises in large economies; Human-made environmental damage 

R5: Digital inequality 

Slovenia 

R1: Severe commodity shocks 

R2: Geopolitization of strategic resources 

R3: Asset bubble bursts in large economies 

R4: Extreme weather events; Human-made environmental damage 

Spain 

R1: Employment and livelihood crises 

R2: Prolonged economic stagnation 

R3: Debt in large economies 

R4: Climate action failure; Fracture of interstate relations 

Sweden 

R1: Asset bubble bursts in large economies 

R2: Terrorist attacks 

R3: Climate action failure 

R4: Debt crises in large economies 

R5: Human-made environmental damage 

Risk 1 Summary 

Austria: Climate action failure 

Belgium:  Climate action failure 

Bulgaria: Human-made environmental damage 

Croatia: Prolonged economic stagnation 

Cyprus: Climate action failure 

Czech Republic: Debt crises in large economies 

Denmark: Climate action failure 

Estonia: Interstate conflict 

Finland: Prolonged economic stagnation 

France: Erosion of social cohesion 

Germany: Climate action failure 

Greece: Prolonged economic stagnation 

Hungary: Failure to stabilize price trajectories 

Ireland: Climate action failure; Failure of cybersecurity measures 

Italy: Climate action failure; Debt crises in large economies 

Latvia: Interstate conflict 

Lithuania: Interstate conflict 

Luxembourg: Asset bubble bursts in large economies 

Malta: Human-made environmental damage 

Netherlands: Climate action failure 

Poland: Human-made environmental damage 

Portugal: Prolonged economic stagnation 

Romania: Human-made environmental damage 

Slovakia: Collapse of a systematically important industry 

Slovenia: Severe commodity shocks 

Spain: Employment and livelihood crises 

Sweden:  Asset bubble bursts in large economies