Global Imbalances
Lagarde clarifies Europe's role in global trade imbalances
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In opening remarks at the 40th Annual G30 International Banking Seminar in Washington DC, ECB President Christine Lagarde defended Europe's position amid debates on global economic imbalances. She argued that the euro area's current account surplus is declining and not a primary driver of worldwide deficits. Lagarde urged stronger transatlantic partnerships over coercive trade measures.