European Central Bank Warns World Economy ‘Fragmenting Into Competing Blocs’

© Photo : PixabayWorld economy<img alt="World economy - Sputnik International, 1920, 17.11.2023" src="https://cdn1.img.sputnikglobe.com/img/104969/54/1049695455_0:100:1921:1180_1920x0_80_0_0_3c6f035cd9a9d12eb364bc48f9bb74c5.jpg" width="1920" height="1080">© Photo : PixabaySubscribeGeopolitical tensions are increasingly “deglobalizing” the world economy, an official with the European Central Bank has emphasized, highlighting the looming effects of climate disasters and the decline in working-age population.European Central Bank (ECB) President Christine Lagarde warned in a speech delivered in Frankfurt on Friday https://www.rt.com/business/587468-world-economy-rival-blocs-ecb/
 cooperation between Germany and Russia, the two biggest powers in Europe.Lagarde also advocated for a Europe-wide regulatory agency to oversee economic activity across the continent, similar to the United States’ Securities and Exchange Commission. Additionally, she floated the idea of a unified European stock exchange.The trend towards increasing economic integration may face opposition from various elements within Europe, who warn of a “democratic deficit” in the European Union and oppose moves they see as threatening national sovereignty. That opposition was perhaps most famously reflected in 2016, when voters in the UK chose to exit the economic and political bloc.

https://sputniknews.com/20231117/european-central-bank-warns-world-economy-fragmenting-into-competing-blocs-1115034378.html