· François Villeroy de Galhau Wiki · Banque de France WikiA mobilising deadline for seizing "Europe's moment"
Read full speech on bis.org ↗ContextHearing of François Villeroy de Galhau, Governor of the Bank of France, before the National Assembly Foreign Affairs Committee, Paris, 14 May 2025.
Why it mattersThe French governor calls the US tariff shock a moment for Europe to invest in innovation and integrate finance.
Problems raised
- US tariffs remain penalising and unpredictable.
- A 10% baseline tariff is unprecedented.
- Uncertainty fuels a wait-and-see attitude.
Solutions proposed
- Seize Europe's moment to act.
- Invest in disruptive innovation like AI.
- Build European financial muscle.