Lagarde: 'One year ago the Draghi report, now the EU implements it' 'One country blocks the Mes, I hope for ratification'

La presidente della Bce Christine Lagarde ha ribadito che l’area euro ha «un’opportunità unica per creare le condizioni per rafforzare il ruolo dell’euro sulla scena mondiale», tuttavia perché ciò accada è necessario agire per rilanciare i fattori di forza a cominciare dal mercato interno. Vanno integrati i mercati dei capitali «adottando misure concrete per completare l’Unione del risparmio e degli investimenti, per la quale è fondamentale un calendario ambizioso», va rafforzata la vigilanza sui mercati dei capitali, «misure come il finanziamento congiunto di beni pubblici, come la difesa, contribuirebbero a creare un bacino sicuro e liquido di debito pubblico Ue», il rapporto di Mario Draghi deve essere attuato: “«È il momento di passare dalle parole ai fatti». Poi, «a livello istituzionale, dobbiamo salvaguardare la fiducia degli investitori nelle istituzioni e nelle politiche che sostengono la nostra valuta, anche sostenendo le regole della legge e difendendo l’indipendenza dell

Lagarde went on to say that 'the weak export performance, driven by higher tariffs, a stronger euro and increased global competition, is expected to dampen growth for the rest of the year. However, the effect of these negative factors on growth is expected to subside next year. At the same time, survey indicators suggest that services continue to grow, signalling some positive underlying momentum in the economy'. Lagarde added that there are now 'more balanced risks but geopolitical uncertainty is great'.

Concerning cost-of-living developments, according to Lagarde, 'with inflation currently around 2 per cent and set to remain around that level over the projection horizon, we can say that the disinflationary process is over'. The Governing Council therefore decided to keep key interest rates unchanged at its last meeting. Lagarde added that 'the inflation outlook in the euro area remains more uncertain than usual, with a still volatile global trade policy environment, responsible for both upside and downside risks. At the same time, as new information has come in, the range of risks on both sides has narrowed'.

"I don't really have an opinion" on the use of the EMF for defence "because it was conceived in other times, for other purposes. My only hope for the EMF is that it is ratified by all the member countries: there is one country that has not yet ratified it (Italy ed.) and that prevents the EMF from fulfilling its mission and its function, which is to support the member countries or even the financial institutions. My greatest hope is that it eventually finds its destination, as planned," said ECB President Christine Lagarde, in a hearing before the European Parliament's Economic Committee.

"From my point of view, taking into account financial stability and the strength of the euro, we should watch carefully to ensure that what is proposed is in line with international law and takes into account financial stability: it would apply in particular to Euroclear, which holds a large volume of Russian assets" and to other countries in the world, in particular the G7 countries, which hold Russian assets," said ECB President Christine Lagarde in a hearing before the European Parliament's Economic Affairs Committee in Strasbourg.