Lagarde warns that Europe cannot lag behind in the AI revolution
It calls for facilitating investment and businesses to gain scale by reducing the fragmentation of European markets.
Christine Lagarde, President of the European Central Bank (ECB), has warned that European companies need a less restrictive environment to compete with US and Chinese giants and capitalize on the AI wave. She stated that Europe is losing the advantages that drove its growth for decades and called for a transformation to eliminate barriers hindering investment, innovation, and growth.
Lagarde cited the erosion of a post-war growth model based on global trade, competitive industry supported by cheap energy, and a stable international order. She proposed solutions including eliminating internal barriers to allow companies to operate and grow as "European companies" and integrating EU capital markets to provide adequate funding for local businesses.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
