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Inflation: Mario Draghi issues warning to revive flagging European growth
Although inflation is finally falling, growth in the European Union is much lower than that of the United States or China. Magali Boissin, head of the economic department of France Télévisions, provides her insights into the situation.
(France 2)
Although inflation is finally falling, growth in the European Union is much lower than that of the United States or China. Magali Boissin, head of the economic department of France Télévisions, provides her insights into the situation.
As inflation finally slows down and a potential end to the crisis looms for the economy, “the observation is cruel”points out Magali Boissin, head of the economic service of France Télévisions. Because the United States has fared better. Against “17 points difference in 2002 between the United States and the European Union”European growth is today behind by “30 points”, explains the journalist, who indicates that “The gap with China is also widening”.
In a report submitted to the European Commission, Mario Draghi, the former president of the European Central Bank (ECB), sounds the alarm. He foresees a “agony” if nothing is done immediately. He advocates to save the EU economy “a horse remedy” : a European investment plan for “800 billion euros per year minimum in innovation or industry”. Which represents “5% of European GDP”points out Magali Boissin. “Mario Draghi will have difficulty convincing”believes the specialist.