Top EU officials sound alarm over Trump's comeback and economic threats
European leaders warn about major changes needed in EU policy after Trumpʼs win. Central bankers and ECB chief point at growing economic gap between EU and US‚ while calling for quick reforms
In a joint-statement today‚ top EU money chiefs raised red flags about next years US political shift. Joachim Nagel and François Villeroy de Galhau (heads of German and French central banks) highlighted how Trumps victory needs quick EU response
We have to deal with geopolitical crises and tensions. The outcome of the US election may well add to such tensions and should be taken as a wake-up call
ECB leader Christine Lagarde pointed at EUʼs deep-rooted problems: slow-moving reforms blocked by special-interest groups make European markets less effective than US ones. Since early 2009‚ American families got three-times more wealthy than EU ones - a fact thats causing worry among policy-makers
The economic landscape shows some hard-to-ignore issues:
- French budget needs big cuts
- German government faces break-up
- Tech development falls behind US
- Defense spending stays too low
The Franco-German partnership - EUs main engine‚ faces real problems as both countries deal with money troubles. German snap-elections coming up next year while France tries to fix its growing debt issues. ECB reports show that investors dont trust EU government spending habits which might lead to new debt problems: this makes quick fixes harder in todays unstable world
