ECB sees elevated risks to financial stability in Europe

FRANKFURT, Germany (AP) — The European Central Bank is warning that some parts of the eurozone economy could face financial disruption from the ongoing pandemic. The ECB said Wednesday that COVID-19 restrictions have had an uneven impact, hitting service companies and small companies harder. It urged governments to watch out for trouble spots as support measures are removed. So far pandemic support has helped prevent otherwise viable companies from going out of business. The ECB warned however that businesses are carrying more debt and that prolonged economic weakness could mean turmoil in pockets of the economy and the financial system.