Praet on politics

  • The biggest worry is increasing lack of trust in international institutions dealing with globalization

You know how to fix that? Do better at your job.

The entire developed world bought into the Washington Consensus on globalization. Where did it lead? To a financial crisis and decade-long slump in growth. You're not going to get people to trust you after that kind of performance. In other eras, that would be the kind of thing to get you the guillotine.

Other Praet:

  • Headline inflation is high basically due to baseline effects of oil prices but inflation is still a bit higher than we thought
  • Eurozone growth is moderate but firming and broadening
  • I am worried about the signals we are getting from the US, but hoping they will moderate