## Lower oil prices in spite of geopolitical tensions
## Greater uncertainty in three areas
There is greater uncertainty in three areas. Firstly, in geopolitical terms. The situation in Ukraine, the sanctions imposed by the EU and US and countersanctions imposed by Russia have not only caused political tensions to rise but also led to growing fears of an aggressive trade war between Russia and the West. This is potentially bad news in particular for the Eurozone economy, which has virtually no buffer to contain external shocks.