According to the latest IPCC report (6th Assessment Report Working Group II – Impacts, Adaptation and Vulnerability), water scarcity is one of the 4 key climate risks in Europe. Two more are also related to water (Flooding and Heat & drought stress on crops).

Quoting the report with regards to water scarcity: "In Southern Europe, more than a third of the population will be exposed to water scarcity at 2°C global warming level (GWL); under 3°C GWL, this risk will double, and significant economic losses in water and energy dependent sectors may arise (medium confidence). For Western Central and Southern Europe, and for many cities, the risk of water scarcity will increase strongly under 3°C GWL."

The impacts become more severe as global warming exceeds 1.5°C. Indeed, every fraction of a degree matters!

At the following link you can find an informative factsheet: https://www.ipcc.ch/report/ar6/wg2/downloads/outreach/IPCC_AR6_WGII_Fac… (Source: https://www.ipcc.ch/report/ar6/wg2/about/factsheets/)