There are ongoing discussions across both France & Spain about relaxing border controls between the two countries to relieve economic stress.
Point of Maximum risk is taken as the Peak of the 2 Sigma Upper Bollinger Band
Current risk is taken as the (Current Upper Bollinger Band) / (Peak Upper Bollinger Band)
FR risk level =33%
ES risk level =56%
Open Border Risk = SQRT(0.33*0.56)= 43% Risk