“Jamie Dimon, the chief executive of the largest US bank, JPMorgan Chase, expressed serious concern about excessive red tape and an economic slowdown in Europe, warning that the weakness of a key ally poses risks for the United States.”, — write: www.pravda.com.ua
Jamie Dimon. Photo: Ronald Reagan Presidential Foundation and Institute Source: Bloomberg
Details: Speaking at the Reagan National Defense Forum on Saturday, Dimon said the European continent was facing serious challenges.
Advertising:
“They’re doing great things on social security. But they’ve crowded out business, they’ve crowded out investment, they’ve crowded out innovation,” Dimon said.
The banker praised Europe’s historic desire for peace, but warned that cuts in defense spending and difficulties in reaching a consensus within the European Union put the continent’s future at risk. Dimon stressed that the United States must develop a long-term strategy to help allies because “a weak Europe is bad for us.”
Dimon’s direct speech: “If they are fragmented, then you can say that America will no longer be on the front line. It will hurt us more than anyone else, because they are our main ally in every way, including shared values, which are really important.”
Prehistory:
- Dimon’s statements echoed in the background new national security strategy USA. This document reorients US interests to the Western Hemisphere and effectively dismisses Europe as a continent that, according to the formulation of the strategy, is moving towards “civilizational extinction”.
- In October, the bank announced plans to invest $1.5 trillion over the next 10 years in industries that strengthen the resilience of the US economy. The initiative, which Dimon called “100 percent commercial,” will focus on supply chains, advanced technology, aerospace and energy independence.