“Three EU central bank chiefs have sounded the alarm over the economic downturn, warning that political paralysis makes Europe even more vulnerable to a potential trade war with the United States.”, — write: www.epravda.com.ua
Three EU central bank chiefs have sounded the alarm over the economic downturn, warning that political paralysis makes Europe even more vulnerable to a potential trade war with the United States.
About this informs Financial Times.
In a joint statement, the leaders of the Bundesbank and the Bank of France said that Europe will be “doomed” if Germany and France cannot revive “joint Franco-German action”.
The call of the heads of the central banks of Germany and France to “joint French-German actions” sounded in columnspublished in the Frankfurter Allgemeine Zeitung and Le Monde, which said Donald Trump’s victory in the US presidential election is likely to increase pressure on Europe’s struggling economy and “should be seen as a wake-up call”.
Meanwhile, Christine Lagarde, president of the European Central Bank, gave a speech in which she stressed the “urgency” of capital markets reform, which had not seen “tangible progress” despite mounting risks.
She criticized Europe’s “extremely fragmented” financial markets and called on political leaders to “bypass vested interests that have long been protected like a fortress.”