Report
After each crisis, Europe makes decisions that strengthen its economy
After the subprime crisis and in response to the euro-zone crisis, the ECB implemented “whatever it takes”: monetary policy would do whatever it took to prevent the euro from breaking up and euro-zone governments from becoming insolvent. After the COVID crisis, the growing awareness of investment needs (healthcare, energy transition, reindustrialisation, education, research, etc.) led to the introduction of the Next Generation EU investment plan, while the ECB kept interest rates very low. The war in Ukraine has now woken Europe to the severity of its energy dependence and military weakness. Europe will now certainly put in place a new investment plan to address these new needs, speed up the energy transition and modernise defence forces. Europe actually emerges stronger from each crisis, even though the situation is serious in the short term.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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