SECURITY AND ECONOMIC IMPLICATIONS OF CROSS-BORDER RISKS IN THE EU - NEW HORIZONS AND THE RISK PORTFOLIO
SECURITY AND ECONOMIC IMPLICATIONS OF CROSS-BORDER RISKS IN THE EU - NEW HORIZONS AND THE RISK PORTFOLIO

Summary/Abstract: In recent years, Europe has been facing increasingly complex national and cross-border risks, ranging from disasters generated by natural hazards and exacerbated by climate change, through industrial and technological accidents, hybrid threats, to a broad spectrum of threats originating in cyberspace. For these reasons, there is a growing need for a holistic, integrative, and scientific approach to understanding contemporary risks, particularly their transformed nature, including strategies for mitigating their consequences at both the national level and within the EU’s subnational structures. Policymakers, the academic community, regulators, and practitioners have recognizedthe scale of emerging hazards and associated risks, given that they are evolving at an unprecedented pace, and are therefore striving to build proactive and collaborative responses grounded in scientific principlesat all levels, with the aim of developing and enhancing the overall resilience of the EU and the achievement of its objectives. In the context of the current proliferation of new risks, cross-border risks in Europe have attracted significant attention. Judging by the growing body of scientific research, cross-border risks are becoming a highly attractive research cluster for both national and European institutions and their research resources. Following the contextualization of the general state of affairs, that is, the strategic environment that generates current and potential risks with a cross-border dimension, this paper seeks to examine the profoundly altered risk landscape and configuration, which, in addition to climate-related risks, encompasses environmental, health, technological, and military threats. This development places the process of risk management at the very top of existing EU security and strategic agendas.

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