Head of the Bank of France believes that ECB will not be able to prevent negative consequences of trade wars

The head of the Bank of France, François Villeroy de Galo, who is also a member of the board of governors of the European Central Bank, believes that the ECB will not be able to prevent negative consequences of the trade war for the economy or a significant departure of the euro area states from budgetary saving programs. He expressed concerns about the plans of the Italian government to increase government spending. Villeroy de Galo said that the actions of the ECB “can not fully compensate for the uncertainty created by politicians, as well as the consequences of these actions.”

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