The mind of the International Monetary Fund gave the continent a piece of advice on Friday:” Feel in yourself. The European market is lagging behind the United States.”
At this week’s World Economic Forum in Davos, there was a lot of skepticism about how Europe has lost its competitive advantage as the European Union competes to catch up with the US and China.
IMF managing chairman Kristalina Georgieva suggested a change in perspective to address the issue at the site’s final screen, which was centered on the worldwide economic perspective.
” The United States has a tradition of trust. Europe has a tradition of modesty”, Georgieva said. ” My advice to my brother Germans is more assurance. Believe in yourself and most importantly, remind people that you do”.
Christine Lagarde, president of the European Central Bank, raised the alarm for its leaders by saying that Europe must preserve its “huge number” of skill at home.
” I believe there is a great possibility for Europe to respond to the call,” said Lagarde, a former IMF main,” so if the German leaders may really get their act together and listen to this wake-up contact and existential threat that can be identified.”
After Donald Trump’s White House visit this week, she also suggested stimulating “disenchanted” talent to relocate to Europe.
” Even it’s also time to buy a few of the skills that would be disillusioned, for one reason or the other, from another part of the sea”, she said, without immediately mentioning Trump.
In his eagerly awaited virtual speech on Thursday, Trump criticized Europe, particularly in light of the US’s trade balance gap with the EU. In front of hundreds of movers and shakers in business and politics.
” I’m trying to be constructive because I love Europe”, Trump said. They” treat the United States of America very, very unfairly” with their poor taxes.
Lagarde asserted that it was true that negotiations had to be had with the US.
” Trade relationships must be structured in a way that gives the partners confidence,” he says. It cannot be about removing all the rules, ignoring the institutions”, she said.
