Browsing: European Central Bank

European Commission President Ursula von der Leyen will convene a meeting on competitiveness in Leuven, addressing both economic strategies and internal tensions among commissioners. The seminar includes IMF Managing Director Kristalina Georgieva and focuses on implementing the competitiveness report by Mario Draghi.

Lawmakers at the European Parliament are struggling to agree on the design of the digital euro, jeopardising its legislative path. Rapporteur Fernando Navarrete proposed an offline “e-cash” model, while some factions back user accounts on the ECB ledger. S&D’s Nikos Papandreou emphasised the need for payment sovereignty amid geopolitical change.

Former Italian Prime Minister and President of the European Central Bank Mario Draghi stated that Europe must transform into a “genuine federation” to avoid becoming subordinated and deindustrialised, as he warned against rising US tariffs and China’s market control.

At the EU Leaders’ Retreat, Costa emphasizes that Draghi’s participation is crucial for boosting competitiveness across Europe, fostering unity and innovation.

Christine Lagarde’s comments come in the midst of persistent turmoil across Europe’s banking sector.

The eurozone is heading for a recession and into a new economic reality where high inflation is no longer a…