Europe in brief: ECB warns of technical recession risk in the eurozone, EU Commission calls on Council of the EU to accept Bulgaria, Romania and Croatia into the Schengen area, EU to provide 1 billion euros for climate adaption in Africa

Europe in brief: ECB warns of technical recession risk in the eurozone, EU Commission calls on Council of the EU to accept Bulgaria, Romania and Croatia into the Schengen area, EU to provide 1 billion euros for climate adaption in Africa

Amid high energy prices, rising inflation and low economic growth, risks to financial stability in the euro area have increased, warns the European Central Bank. What also happened: The European Commission calls for Schengen area membership for Romania, Bulgaria as well as Croatia and announces a 1-billion-euro program to help fund climate change adaptation and resilience in Africa.