The future of the euro area economy Speech by ECB President Lagarde Speaks Key Points

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The key Points she raised

  1. Challenges in the global economy
  2. Resilience and re balancing
  3. Policies to boost internal growth

Challenges in the global economy,In the statement she said 

Ongoing trade tensions and geopolitical uncertainties are contributing to a slowdown in world trade growth, which has more than halved since last year. This has in turn depressed global growth to its lowest level since the great financial crisis.

Since the trade tensions are the global concerns she added the same,Including the slowing trades concern she pointed  She further added

It suggests that needs to innovate and invest to respond to these challenges and preserve its competitiveness in the longer run. But it also suggests that the high rates of trade growth that we are used to seeing are no longer an absolute certainty.

The structural formation is necessary.with this she said the trade growth are no longer as absolute certainty.

In the concluding part she added

Let me conclude.

We face a global environment that is marked by uncertainty. But I believe that, if we approach this challenge in the right way, it can also be a moment of opportunity.

We have a unique possibility to respond to a changing and challenging world by investing in our future, strengthening our common institutions and empowering the world’s second largest economy.

All of this would be a game changer, not just for our own stability and prosperity, but for that of the global economy, too.

It does require us to think differently about Europe. It will almost certainly not be easy. But as St Francis of Assisi once said, “Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible”.

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