Stable and strong in turbulent times – Europe's responses to global challenges
· Joachim Nagel, President of the Deutsche Bundesbank (Germany)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, trade, fragmentation and geopolitics
JN · Joachim Nagel Wiki · Deutsche Bundesbank WikiStable and strong in turbulent times – Europe's responses to global challengesContextSpeech by the Bundesbank President to the Lions Club Frankfurt-Am Leonhardsbrunn, on the eve of Europe Day.
Why it mattersThe Bundesbank President's broad view of the decade's shocks and of what monetary policy can and cannot do.
Problems raised- Four major upheavals hit this decade, from the pandemic to war.
- The Middle East conflict pushes oil and gas prices up.
- Monetary policy alone cannot meet these challenges.
Solutions proposed- Keep monetary policy focused on price stability.
- Improve conditions so private firms invest and innovate.
- Give a common European response to global challenges.
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