Bank of France Governor Francois Vilua de Galo today called the European Union ‘To wake up“And enhance the skills of innovation to tackle the” unpredictable “element of US President Donald Trump’s economic policy.
‘The most desirable is for Europe to wake up’, Billerue de Galo told France Culture.
Should ‘to enhance innovation and production capacity in Europe », “To invest better in the technologies of the future and innovate faster by simplifying things.”he added.
‘Europe has a lot of trump’continued, citing a single market for about 450 million consumers and startup companies (Startup), “But Europe has slept a little in front of the innovation wave that was largely born in the US and partly in China,” emphasized.
The Bank of France provides for economic growth of 0.1% to 0.2% in the first quarter in France in a context of strong uncertainties. For 2025, it provides an increase of 0.9%, as is the government.
“If there is a key threat to the economy today, it is this uncertainty that causes the waiting of businessmen who postpone their investment, or even consumers (…) who postpone their purchases and prefer to save”, “ François Vilua de Galo warned.
“In this respect, Mr. Trump’s unpredictable (…) is not an effective economic strategy. Everywhere in the world, this increases uncertainty and therefore burdens confidence and growth. “ noted.
As far as Ilon Musk is concerned, which has been tasked with Trump to reduce the spending of the US federal state, ‘A genius innovative’, who, however, uses ‘Extremely brutal methods’the Governor of the Bank of France said he hoped that “The deterrent forces of the American Republic and the economy will act.”
“Protectionism may seem attractive in the short term – we say to ourselves that we are protecting our economy – but always and everywhere, it proves to fail over time,” judged.
While inflation decreased in France and the unemployment rate was 7.3% in the fourth quarter of 2024, “there are two serious economic diseases remaining,” he added.
As far as France is concerned reported ‘In the problem’ of fiscal and debt. As far as Europe is concerned, it referred to that of inadequate growth and innovation.
At a time when the European economy ‘Revolves around a 1%development’, This is ‘between 2% and 3%’ in the US, and ‘Every year, the gap grows’, ended up.
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