François Villeroy de Galhau: “Enough of a Europe which is razing the walls! “

Posted on Feb 19, 2019 2021 at 7:00Updated Feb 19, 2019 2021 at 7:58

At the start of 2021, the impression is that Asia is turning the page on the pandemic, that the United States is giving itself considerable means to turn it around, but that Europe, health and economically, is behind schedule. Is it yours?

Let us clarify the photograph today: Asia, the source of the crisis, has taken very radical health measures and its economy therefore rebounded earlier. Conversely, the losses in American human life remain the heaviest, but their economy suffers half as much, it is true, as that of Europe. Why ? Washington has put on the table exceptional stimulus plans to compensate for the lack of social protection, and in view of the electoral calendar. In this budgetary field, Europe does not have to be ashamed of the comparison: our social model has spontaneously better protected employees and citizens; in addition, the European states have all quickly mobilized 4 to 5 points of GDP in massive support for their economies.

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