Europe in excellent position in the face of the COVID-19 crisis

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The President of the ECB, Christine Lagarde, estimated that the economic crisis, created by the Covid-19 pandemic, will profoundly change the world economy towards ecology, digitalization and working methods, and Europe is in an excellent position in this situation.

"This crisis will be an acceleration of transformations that were already latent in our economies," she predicted, attending a video conference at the Aix-en-Seine economic summit in Paris.

"In production, at work, in trade, what we have just experienced will accelerate transformations and possibly lead to an evolution towards a more sustainable and green way of life."

"Currently, it is estimated that the crisis should lead to a contraction of supply chains of about 35% and an increase in robotics in the industry from about 70 to 75%," she said.

Moreover, due to the closure that affected most of the inhabitants of the planet at the same time, online commerce has developed significantly. "This development must accelerate further in the future to the detriment of more traditional trade."

"In the face of these transformations, Europe is in an excellent position to undertake this move," she said.

 

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