The Economics Show Martin Wolf interviews Christine Lagarde: Whither Europe?
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Dec 23, 2024 Christine Lagarde, President of the European Central Bank, shares her journey as the first woman to hold multiple top finance roles, including her time at the IMF. She discusses Europe's sluggish economic recovery from Covid-19 and the challenges of inflation. Lagarde emphasizes the need for a more unified European approach to boost productivity and innovation. She also highlights the intersection of climate change and economic stability, advocating for green investments and addressing trade dynamics amid political shifts.
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First Encounter
- Martin Wolf and Christine Lagarde reminisce about their first meeting in St. Gallen.
- Lagarde recalls a discussion about the Italian economy and the role of Italian women.
2022 Economic Challenges
- The economic challenges of 2022, including soaring inflation and the war in Ukraine, were significant.
- Lagarde rates the difficulty of 2022 as a four out of ten, but sees potential for improvement in the current situation.
Inflation Concerns
- Inflation is decreasing, but vigilance is needed, especially regarding services inflation.
- Lagarde highlights wages, profits, and the delayed price increases in sectors like insurance as key factors to watch.