Savings, not debt, can finance EU growth – Villeroy de Galhau
Governments need “strategic pivot” to meet structural challenges, says BdF governor
Most European governments should focus on fiscal consolidation while pivoting to structural policies, the governor of the Banque de France (BdF) has said.
Speaking at the European Banking Congress on November 22, François Villeroy de Galhau said ballooning public debt was creating uncertainty. Instead of heeding Mario Draghi’s call for greater investment, governments should begin drafting longer-term structural policies “to meet the major challenges of growth in the coming years”.
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