News release: The World Economic Forum’s Global Risk Network launched today a new edition of its Europe@Risk – A Global Risk Network Briefing, which is published ahead of the World Economic Forum on Europe and Central Asia (Istanbul, Turkey, 30 October – 1 November 2008). The report examines the global risks most pertinent to Europe, Russia, Eastern Europe, Turkey and Central Asia. The current financial crisis will have profound effects on the region and its consequences on the real economy are still unfolding. As the report was being prepared, the financial crisis that began in 2007 reached a critical point. Banks on both sides of the Atlantic were bailed out and rescue plans for the financial sector were put in place all over Europe.”