Former Slovak Finance Minister Warns of Potential Global Financial Crisis Similar to 2008

Ivan Mikloš, Slovakia's former finance minister, has warned that the global economy faces risks that could trigger a financial crisis similar to the 2008 collapse. Writing in Slovak media, Mikloš identified two key threats to global financial stability: rising oil prices due to Middle East conflicts and potential mass withdrawals from non-bank investment funds. While oil price increases from the Middle East war have not yet reached the devastating levels of previous oil crises, Mikloš noted they still pose economic risks. However, he acknowledged that the financial sector has become more resilient since the 2008 crisis, with stronger regulatory frameworks and capital buffers in place. Some analysts and investors have drawn parallels between current global economic conditions and the period immediately before the 2008 financial meltdown, suggesting similar warning signs are emerging in financial markets.