Europe’s next economic test is delivering change, says Lagarde

World

Europe’s next economic test is delivering change, says Lagarde

ECB boss says economy is recovering, with the zone now needing to focus on disparities between north and south

Carolynn Look

The greatest challenge facing Europe’s rebounding economy is whether authorities can implement the changes needed to transform its potential, according to European Central Bank (ECB) president Christine Lagarde.

Unprecedented monetary and fiscal aid, and more vaccinations, have brought the region to a point where it is “recovering more rapidly than we had anticipated”, she said on The David Rubenstein Show: Peer-to-Peer Conversations on Bloomberg Television. The euro area is now expected to reach pre-pandemic output levels before the end of this year.

A key test now hinges on how Europe acts to close the long-standing gap between northern and southern countries, reduce inequalities worsened by the pandemic and aid the transition to a more environmentally sustainable economy, Lagarde observed...

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