Finance, a Strategic Issue for Europe

Sylvie GOULARD Sous-gouverneure, Banque de France - Membre de la Commission paneuropéenne sur la santé et le développement durable (OMS-Europe)

While the global economy is experiencing profound changes, the European Union (EU) is threatened with becoming marginalised. Donald Trump's election raises doubts about transatlantic cooperation and, with Brexit, the EU is losing a Member State and a leading financial centre. In this context, for the EU it is a question of maintaining a competitive European financial sector in order to conserve its ability to control its choices for the future. The 2008 crisis did however show that financial flows can only be effectively regulated at the global level. In order to defend its interests, as well as to bring about structural reforms, the EU must strive to improve its influence.