Europe Should ‘Flex Muscles’ on World Stage, Lagarde Says
- EU reaction to the war shows its strength, ECB chief says
- Lagarde says European processes sometimes move too slowly
Christine Lagarde during a panel session at the World Economic Forum in Davos, Switzerland, on May 25.
Photographer: Hollie Adams/Bloomberg
This article is for subscribers only.
The war in Ukraine has shown Europe doesn’t understand how powerful it could be on the world stage and the bloc should “flex its muscles” more than it does, European Central Bank President Christine Lagarde said.
Speaking at the World Economic Forum in Davos, Lagarde said the EU’s “monumental market” means it can set the conditions of trade and its competition laws mean it can block mergers around the world. She also noted potential strength as a unified purchasing group and huge pension fund resources that could be better deployed.