Lagarde calls for urgent integration of capital markets

The President of the European Central Bank, Christine Lagarde, emphasized the urgent need for deeper capital market integration and enhanced technological and energy capabilities in Europe. Speaking at the Paris Peace Forum, she highlighted the importance of enabling European companies to secure financing locally rather than relying on external sources, particularly from the US. Lagarde warned against excessive dependence on foreign suppliers, citing Europe's energy reliance on Russia and China's restrictions on critical raw materials. She advocated for a balanced approach between economic openness and strategic autonomy, underscoring the role of economic sovereignty in fostering stable growth. Additionally, she discussed the potential of a digital euro and the modernization of payment infrastructures to strengthen the euro's international standing.