Panetta Says Middle-East Conflict May Destabilize Energy Markets

(Bloomberg) -- Bank of Italy Governor Fabio Panetta warned of the potential fallout should the war in the Middle East spread.

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“There is a risk that the ongoing tragic conflict in the Middle East could end up destabilizing energy markets,” he said in Rome, where he is receiving an honorary degree.

“Global geopolitical conflicts often stem from the insecurity and consequent social unrest experienced by large sections of the population, as well as from the loss of economic and political standing of some countries and regions of the world,” the governor said. “They are probably the most insidious threat to the post-war multilateral order.”

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