MORGAN STANLEY: The 7 biggest risks to the global economy

Cover all your bases.

That's the tone of Morgan Stanley's note Monday that tracked the route of the global economic recovery.

"While our base case view is for a continued, moderate expansion, we acknowledge that the risks to our global growth forecasts are skewed towards the downside," the Morgan Stanley analysts wrote.

The analysts highlighted monetary easing, falling oil prices and inflation as key risks.

Scroll down for the seven key risk scenarios that could shake up markets across the globe.