{"id":129881,"date":"2024-04-19T07:35:10","date_gmt":"2024-04-19T04:35:10","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/ecbs-lagarde-highlights-critical-need-for-private-capital-to-boost-innovation-in-europe\/"},"modified":"2024-04-19T07:35:10","modified_gmt":"2024-04-19T04:35:10","slug":"ecbs-lagarde-highlights-critical-need-for-private-capital-to-boost-innovation-in-europe","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/ecbs-lagarde-highlights-critical-need-for-private-capital-to-boost-innovation-in-europe\/","title":{"rendered":"ECB\u2019s Lagarde highlights critical need for private capital to boost innovation in Europe"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/129881\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nAt a Council on Foreign Relations meeting on Wednesday, European Central Bank President Christine Lagarde stressed the importance of private investments in catalysing Europe&#8217;s green transition and fostering innovation. Discussing the state of the European economy and geopolitical challenges, she emphasised the need for about \u20ac600 billion annually to support climate change mitigation efforts, underlining the critical role of private financial support for these initiatives. Lagarde also provided insight into the current state of the European economy, the ongoing efforts in US-EU economic cooperation, and the broader implications of geopolitical challenges.<\/p>\n<p>Addressing the query on why Europe has managed inflation better than the United States, despite facing higher energy price shocks, Lagarde pointed out, &#8220;It&#8217;s not over yet. We&#8217;re dealing with two different kinds of inflation. &#8220;The employment and the unemployment rates in Europe are as good as they have ever been,&#8221; Lagarde stated, pointing to a robust job market as a silver lining amidst economic uncertainties. Looking ahead, she expressed cautious optimism about the eurozone\u2019s recovery trajectory, predicting gradual improvements through 2024.<\/p>\n<p>Lagarde addressed the significant disparity in economic growth between the eurozone and the United States. Since 2008, the US economy has grown 75% larger than that of the eurozone. She attributed this to several factors, including the &#8220;second wave of crisis&#8221; in Europe, such as the sovereign debt crisis, and the lack of a fiscal union to complement its monetary framework. A stark productivity gap was also underscored, with United States&#8217; productivity growth markedly outpacing Europe&#8217;s.<\/p>\n<p>&#8220;It&#8217;s just mind-boggling; productivity in the United States between 2019 and now has been 6%, in Europe 0.6%,&#8221; Lagarde remarked, calling for comprehensive structural reforms and better integration of the single market to bridge this divide.<\/p>\n<p>Considering the ongoing economic and geopolitical crises, Lagarde sees potential for Europe to forge a more autonomous economic path. She emphasised the importance of developing a robust, internally-focused financial infrastructure to support innovation and entrepreneurship within the continent, suggesting that such initiatives could act as catalysts for significant economic reform, particularly in adapting to and mitigating climate change. &#8220;We are at the cusp of that needed transformation,&#8221; she affirmed, highlighting the necessity of private investment in Europe\u2019s green transition, which she estimates requires about \u20ac600 billion annually.<\/p>\n<p>Lagarde reiterated that European political commitment to addressing the climate change issue is unwavering and urgently requires financial support. &#8220;That will require private money, private capital savings to be invested in that transformation.&#8221;<\/p>\n<p><a rel=\"noopener\" href=\"https:\/\/www.euronews.com\/business\/2024\/04\/18\/ecbs-lagarde-urges-private-capital-to-boost-energy-transition-and-innovation-in-europe\">Read more&gt;&gt;<\/a><\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.euronews.com\/business\/2024\/04\/18\/ecbs-lagarde-urges-private-capital-to-boost-energy-transition-and-innovation-in-europe\">Euronews Business<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/ecbs-lagarde-highlights-critical-need-for-private-capital-to-boost-innovation-in-europe\/\">ECB&#8217;s Lagarde highlights critical need for private capital to boost innovation in Europe<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,14214,274,763,14215],"class_list":["post-129881","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-ecbs-lagarde","tag-eu","tag-innovation","tag-private-funging"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/129881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=129881"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/129881\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=129881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=129881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=129881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}