Lagarde urges cuts in certain public spending items to finance AI investments
He has not wanted to specify or indicate in which areas these cuts should be made to control public deficits.
Christine Lagarde, President of the European Central Bank (ECB), has stated that countries must control their public spending in certain areas to finance necessary investments in defense, energy transition, and artificial intelligence while maintaining balanced public finances. She did not specify which areas should be cut, but emphasized the need for rigor and transparency in controlling public spending, citing Greece's experience during the 2008 financial crisis.
Lagarde also called for European banking champions to compete with large US banks, and advocated for a fluid and efficient capital market in Europe to attract investment, currently estimated at €300 billion annually that often goes to the US.
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.
