European Central Bank official Yannis Stournaras warns that eurozone interest rate policy now depends on how severe & lasting the energy disruptions from the Iran conflict turn out to be. The ECB's latest forecasts show eurozone inflation averaging two point six percent in 2026, higher than previously expected, due to rising energy costs. Stournaras says the banking sector is strong after solid 2025 results but faces risks from geopolitical uncertainty. He calls for faster European integration to build the bloc's resilience against future shocks.