European Central Bank President Christine Lagarde looks on as she attends the European Parliament’s Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. Yves Herman | Reuters
CNBC: ECB’s Lagarde: Increasing signs that the global economy is fragmenting into competing blocs
* Focusing on Europe, European Central Bank President Christine Lagarde said that a continuous decline in the working age population looks set to start as early as 2025, alongside climate disasters which are increasing every year.
* Her answer to these shocks was that massive investment would be needed in a short space of time, requiring what she called “a generational effort.”
European Central Bank President Christine Lagarde on Friday said Europe is now at a critical juncture, with deglobalization, demographics and decarbonization looming on the horizon.
“There are increasing signs that the global economy is fragmenting into competing blocs,” she said at the European Banking Congress, according to a transcript.
Focusing on Europe, she said that a continuous decline in the population of working age looks set to start as early as 2025, alongside climate disasters that are increasing every year.
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Update: World economy may split into rival blocs – ECB (RT)
WNU Editor: She is giving everyone a heads-up that the days are numbered when when the US dollar was the world’s reserve currency and the Euro was a close second.