ECB's Lagarde Notes Signs of Global Economic Fragmentation into Blocs

European Central Bank President Christine Lagarde on Friday said Europe is now at a critical juncture, with deglobalization, demographics and decarbonization looming on the horizon.

“There are increasing signs that the global economy is fragmenting into competing blocs,” she said at the European Banking Congress, according to a transcript.

Focusing on Europe, she said that a continuous decline in the population of working age looks set to start as early as 2025, alongside climate disasters that are increasing every year.

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