ECB President: Europe is able to cope with upcoming economic shocks

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Despite pressure from US tariffs and the conflict in Ukraine, Europe is in a strong position to cope with future economic shocks, ECB President Christine Lagarde said.

ECB President Christine Lagarde. (Source: THX/TTXVN)

European Central Bank (ECB) President Christine Lagarde affirmed on October 16 that despite pressure from US tariffs and the conflict in Ukraine, Europe is in a strong position to deal with future economic shocks.

Speaking at an International Monetary Fund (IMF) event in Washington, US, Ms. Lagarde said eurozone inflation had remained around the 2% target in recent months.

“We are in a good position and well prepared to face the shocks ahead,” she said, while acknowledging that there are still many unpredictable risks such as trade tensions and the conflict in Ukraine.

Many experts had previously feared that the US raising import tariffs on European goods to 15% after tough negotiations could cause a major shock to growth and rekindle inflation in the region. However, in reality, the impact has so far been “less severe than expected,” partly thanks to the strong euro helping to reduce import costs.

According to the latest forecast of the IMF, the eurozone economy's growth outlook for 2025 has been raised to 1.2%, thanks to the resilience of Spain and slight improvements in Germany and France./.

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