- 8 minuti fa
Europe Today: l'Europa a un bivio economico mentre crescono le tensioni globali
Christine Lagarde avverte che l’Europa deve rafforzare l’economia mentre le tensioni in Medio Oriente aumentano l’incertezza. A Bruxelles i ministri delle Finanze UE valutano misure economiche, restrizioni al commercio con gli insediamenti israeliani e nuove regole sulle criptovalute.
ALTRE INFORMAZIONI : http://it.euronews.com/2026/07/10/europe-today-leuropa-a-un-bivio-economico-mentre-crescono-le-tensioni-globali
Abbonati, euronews è disponibile in 12 lingue.
Christine Lagarde avverte che l’Europa deve rafforzare l’economia mentre le tensioni in Medio Oriente aumentano l’incertezza. A Bruxelles i ministri delle Finanze UE valutano misure economiche, restrizioni al commercio con gli insediamenti israeliani e nuove regole sulle criptovalute.
ALTRE INFORMAZIONI : http://it.euronews.com/2026/07/10/europe-today-leuropa-a-un-bivio-economico-mentre-crescono-le-tensioni-globali
Abbonati, euronews è disponibile in 12 lingue.
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00:14Buongiorno, è Friday 10 di Julio, io sono Mave McMahon e questo è Europe Today,
00:20il giorno di roundupo di più europee storie e l'analisi che importa, live here on Euronews.
00:26Come up, Donald Trump says the truce with Iran is quote over as Tehran reports a US attack near a
00:32nuclear plant.
00:33With the global economy in flux as the war intensifies, we'll bring you exclusive insights on how the European economy
00:39is faring
00:40with the President of the European Central Bank herself, Christine Lagarde.
00:44This as European finance ministers huddle in Brussels to assess the health of the European economy.
00:50On the agenda, a new proposal from Spain for a common EU borrowing mechanism worth up to 850 billion a
00:58year.
00:59We'll be hearing exclusively from the French Economy Minister Roland Lescure, who'll be joining us here on set.
01:05And meanwhile, a sense of déjà vu. France bet Morocco 2-0.
01:09The very same scoreline as their World Cup semi-final meeting in Qatar back in 2022.
01:15After a pretty frustrating start, including a missed penalty, France found their rhythm and ultimately proved too strong for Morocco.
01:24But first, Europe must look at its own weaknesses, but also leverage them in a very turbulent global scenario.
01:30The words of the President of the European Central Bank, Christine Lagarde,
01:34in an exclusive interview with Euronews' Europe editor, Maria Tadeo.
01:37For more on this wide-ranging sit-down that touched on an array of issues,
01:41I'm joined here in the studio by our very own Europe editor, Maria Tadeo.
01:45Maria, good morning.
01:46That was a very long sit-down interview you had with the President of the ECB.
01:49You touched on many issues, from the economy to President Donald Trump to China.
01:53Fill us in.
01:54Yes, Maeve.
01:55And of course, Christine Lagarde is incredibly powerful, very influential.
01:59And this is now head of the European Central Bank, who if she has something to say,
02:02she will say it and you'll hear it very clearly.
02:04In this conversation, we talked about the European economy, as you pointed out.
02:08We also talked about the trajectory of interest rates.
02:11This is crucial, of course, for European consumers.
02:13The European Central Bank just had to increase interest rates as a result of a pickup in inflation
02:18because of the instability we see certainly playing out in the energy market
02:22because of the war and the situation in the Strait of Hormuz.
02:25And then we talked about Europe, a lot on Europe.
02:27She said by now the Europeans have recognized some of their weaknesses
02:30and they have to reform and they have to address those issues.
02:34She's a real champion of the Capital Markets Union, suggesting that the fact that we have billions
02:39and billions of euros that will leave Europe to go and be invested in the U.S.
02:43is a total anomaly and this money should stay here.
02:45So the Capital Markets Union continues to be her priority.
02:49And then we also talked about this idea of a European safe asset.
02:52Obviously, this is a very technical debate.
02:54If you're an EU nerd and here we are, but you know this is really fundamentally
02:59a question about creating a sort of, well, instrument, a tool that would see the Europeans
03:05borrow together to fund and pay for common projects for key issues, including defense,
03:11but that also could create a sort of bond market that could rival the U.S. Treasuries.
03:15And I asked her this question because this is very much in the side, guys,
03:19because the Spanish have picked up on a proposal initially by Mario Draghi now saying
03:23they would like to see about 150 billion euros a year of this funding.
03:27They argue that in the end there is a case that it could be cheaper if you reduce interest rates
03:32and the payments that individually you'd have to make by doing it collectively.
03:36I asked this question to Christine Lagarde and she told me, look, put it on the table,
03:41just debate it.
03:42Let's take a look.
03:43It's pretty obvious that we also need to have a European asset which can, you know,
03:49parallel with the U.S. Treasury bonds, for instance, how we go about it,
03:54how the moral hazard is addressed, how it's allocated in terms of results to be decided.
04:00And I think it's great that a country like Spain, for instance, makes a proposal,
04:04puts it on the table for debate.
04:06And it's now for the others to say, OK, we like this part.
04:09We don't like this.
04:10We can address it.
04:11So when you hear these numbers, 800 billion euros, Mario Draghi echoed that,
04:14the Spanish seem to be putting that on the table.
04:16The French president has said, in his view, there are no taboos.
04:19That doesn't scare you when you hear 800 billion euros, this kind of money.
04:23Remember what we did for COVID.
04:25That was the amount that was actually put on the table for joint borrowing
04:28in order to respond and to produce the recovery and what was it, RRF, the...
04:34Recovery and Resilience.
04:36Yeah, Recovery and Resilience Fund.
04:38That was roughly the amount.
04:40And the commission went to market.
04:42We helped in the process because we act as an agent in that respect.
04:46And it was widely, you know, broadly subscribed, oversubscribed.
04:50So I'm not saying that this is the amount.
04:52I'm just saying that to go with the capital market, you need depth, you need liquidity,
04:59and you need to entice the savings of Europe onto that market.
05:04And that is, of course, ahead of the European Central Bank.
05:06And Maeve, this is a very hot topic in Brussels.
05:09And as you know, the question of joint debt is, in essence, very, very political in Europe.
05:15It is interesting, however, that she is saying, let's debate it on merit.
05:19You'd have countries like Germany, the Dutch, too, who'd say, absolutely not.
05:23We've said we would not agree.
05:24That was a one-off.
05:25We do not want this to become a constant.
05:27But the debate is certainly now out there.
05:30And then the other point, just briefly, we spoke about China.
05:32The Europeans have said now, they've set out this deadline in October, we need to see a
05:36rebalancing in the trade relationship between the Chinese and the Europeans.
05:40They have posted a massive trade surplus last year, the Chinese, and the European deficit
05:45keeps getting bigger.
05:46I asked her what happens if in October there's no deal.
05:49This is a difficult deadline because it could potentially lead to a form of retaliation.
05:53And she told me there now needs to be a serious, quote, conversation among adults when it comes
05:59to the subsidies, when it comes to the prices, when it comes to some of the practices, almost
06:03sector by sector with the Chinese, because they talk, but now they need to really walk
06:08the talk when it comes to a relationship that works for both.
06:12And another major topic you dived into, of course, the upcoming presidential elections
06:16in France next year.
06:17Look, there's a lot of speculation about the future of Christine Lagarde.
06:20There's really a lot of speculation as to what kind of role she could play in the campaign,
06:25but also what are the implications when it comes to the European Central Bank, because
06:28she will have to leave early, depart early.
06:32In theory, her term will end in the fall of 2027.
06:35But of course, the French election will happen in the spring.
06:37I asked her this question.
06:38Some would like to see you be in that European voice.
06:42And she told me she's not a candidate for anything, certainly not for the time being.
06:46But she's monitoring this election because she believes it's fundamental for France,
06:49but also Europe.
06:50Let's take a look.
06:52As a French, I have my own views.
06:54I keep them to myself.
06:55But what I very much hope is that the democratic process will continue.
07:00You know, in politics, the next, you know, eight months is eternity.
07:03So, so many things can happen.
07:05We will be monitoring.
07:06We will be looking at the risk level.
07:08We will be looking at all that carefully.
07:10And we hope that reason will always prevail and that France will appreciate, whoever is
07:16the leader for France, that it is one key member of Europe and that Europe is the only
07:21playground within which member states, nations, even France can actually play a significant
07:27role.
07:28I'm not a candidate for anything, but I'm very keen that Europe is protected, that Europe
07:33is the framework within which member states operate, including France.
07:37I'm not a candidate, but I am very keen.
07:39And Maeve, just briefly on this point, there's a lot of speculation also here in Brussels,
07:43because let's say if Lagarde does leave the European Central Bank earlier, there could
07:48be a question because this was a package deal.
07:50She was put at the European Central Bank.
07:53Ursula von der Leyen of Germany was obviously named head of the European Commission.
07:56But this was a package.
07:58If the head of the ECB leaves, would that have a knock-on effect on the Commission?
08:02That is a serious question, because it created a perfect balance between Germany and France.
08:06That could potentially change.
08:07So, of course, in Brussels, everyone monitors the future of Ursula von der Leyen.
08:12Some would argue it is connected in some ways with the future of Christine Lagarde, too.
08:16Okay, Maria Seja, thank you so much for that.
08:17And, of course, you can catch that full interview with the ECB president, Christine Lagarde.
08:22It'll be broadcast straight after Europe Today, so stay tuned for that.
08:26But now, for another view, coming up, we'll be joined by Roland Lescour, the French economics
08:31and finance minister, an economist by trade and a very close ally of the French president,
08:36Emmanuel Macron.
08:37Minister Lescour previously served as industry minister and chaired the National Assembly's
08:41Economic Affairs Committee.
08:43He's in Brussels today for talks with finance ministers from all across the block.
08:47So we're thrilled to have you here in the studio to give us a little insight into what's
08:50going on in that meeting before you head over.
08:52I imagine the impact the war in Iran and the Middle East is having on our economy here
08:57is kind of overshadowing the talks today.
09:00Are you preparing for a potential recession?
09:02Well, we're not there yet.
09:03Both France and, in a way, the European economies have proven quite resilient.
09:08As you know, we're not exposed directly to the crisis in the sense that there was no volume
09:13issue.
09:13We still got oil.
09:14We still got gas.
09:15We still got fertilizers.
09:18But the fact that some of the oil that was flowing is not flowing anymore to Asia has
09:22risen the prices.
09:23And obviously, this has had an impact on our consumers.
09:26You know, the oil tanks have been more expensive to fill and everything.
09:29So we've had a slow first half, for sure.
09:32But you're not in panic mode yet.
09:33You're not preparing measures yet.
09:34I mean, panic mode doesn't really serve any purpose.
09:37So what we've done is we've targeted measures that are tailored, temporary, to the people who
09:42I need, the people who are mostly affected, people who travel a lot for their work, truck
09:46drivers, farmers.
09:48And we've tailored them.
09:50We've made sure that they didn't have a major impact on public finance, which is my job.
09:54And so far, so good.
09:56I think the economy has been resilient.
09:58But we need a recovery.
09:59I think that, hopefully, the short-term volatility that we've seen in the last couple of days
10:05will be over soon.
10:06And hopefully, we'll be, again, taken the route towards more negotiations, more peace, and
10:11then a better economy, which is very important.
10:13And as you say, we need a recovery.
10:15We've seen some interesting proposals by the Spanish government this week.
10:18They're proposing a new joint EU debt instrument worth up to 850 billion euros.
10:23Carlos Corpo, the Spanish Ministry for the Economy, he's also in Brussels.
10:26And he spoke yesterday to our Maria today.
10:28Let's just take a listen to what he had to say, and then I'd love to get your reaction.
10:31Spain is actually making a pitch or a proposal to centralize part of the national issuances
10:39within the commission, within a specific facility that can help without increasing the total
10:44level of debt to reduce fragmentation and, therefore, reduce costs and integrate further
10:49our national markets, our national financial and capital markets.
10:54And that would, at the same time, as I said, reduce also costs for our firms.
10:58So it's a win-win situation, which we hope to discuss with our colleagues right now.
11:02So what's your view from France here?
11:04Is it a win-win situation?
11:05Would you support this?
11:05Well, it's an interesting proposal because, as you know, usually people advocate more common
11:11debt on top of national debt.
11:13What Carlos Corpo is advocating is for some of the national debts to be pooled and then auctioned
11:19on the market and then lend back to the country.
11:22So it's an interesting proposal that solves some of the issues that usually debt on top
11:28of debt can address.
11:29There's one issue that concerns me.
11:31I've talked to Carlos about it, and we need to study it further.
11:34It's the moral hazard, you know, the fact that if one country transfers the debt to the whole
11:39community, that might be an incentive for that country to take more debt.
11:43So we'll have to see.
11:44But one thing is for sure, we need euro to be even stronger, even deeper, even more liquid
11:51than it is today.
11:52And the main factors behind that, to have the euro as a top-of-the-notch global currency,
12:00we need more competitiveness.
12:01We need capital market union.
12:03We need, you know, we need the whole packet.
12:05And it's not just by transferring debt that we're going to minus that.
12:08But we do need a safe asset to reassure the world that, yes, they can safely lend money
12:14to the eurozone and get it back.
12:15And you saw we had that interview with the ECB president, Christine Lagarde.
12:18I mean, she's fixated as well with the capital market union.
12:22When will we ever have this?
12:23When will it become a reality?
12:24She's fixated, and I'm obsessed.
12:26I think you're Irish, right?
12:27Yes.
12:28We have a great Irish presidency starting.
12:30It started yesterday for the ECOFIN.
12:32I mean, it starts today, actually.
12:34And I believe I had talked with Simon Harris, who's now chairing the ECOFIN Council.
12:38He's really willing to nip it in the bud between nine and the end of the year.
12:42Will they manage, though?
12:43That's a challenge.
12:44Well, that's what I'm going to say today.
12:45We need to do everything we can.
12:47Both to have a deal and to have an ambitious deal.
12:49Because there's no way we should water him down.
12:52And there's a lot they want to get done before next year.
12:54Because, of course, big elections taking place in your country.
12:57How will they play out?
12:59Tell me.
12:59I don't know.
13:00It's a year away.
13:01There's still a lot of uncertainty.
13:03You know, it's going to be interesting election.
13:04And as you said, very important for France and for Europe.
13:07I started running.
13:09I was in a completely different world 10 years ago.
13:11Because we had a candidate that put the European flag in all its meetings.
13:15I do believe strongly that Europe is part of the solution, not part of the problem.
13:19We have two extremes that think otherwise.
13:21Could it be up one extreme against the other?
13:23Could that be the final ticket?
13:24Everything I can to make sure we avoid that scenario.
13:27There's a big central back in France.
13:29We need to find the right candidate to carry the flag.
13:31But I'm convinced that the absolute majority of French people want progress, want order, want unity.
13:40And we just have to make sure we convince them that that's the right person to carry that flag.
13:45And just final, congrats on the football.
13:46Who's going to win the World Cup?
13:47Thank you.
13:48Well, if I didn't tell you France, it'd be different.
13:51I think we have a great team.
13:53But, you know, soccer, football is such that anything can happen between now and next time.
13:57We're keeping a close eye on it, Minister.
13:59Thank you so much.
13:59Allé les bleus, allé les bleus.
14:00Thank you so much for coming in to us today.
14:03And another topic on the table at that meeting is crypto.
14:06The European Commission has launched a consultation until the end of September in an effort to come up with new,
14:11better rules.
14:12For more on what all that means, here's our Jacobianos.
14:18If you are a crypto investor, you might know that the EU just built a massive financial fortress to tame
14:24the wild part of the markets.
14:25Brussels wanted to replace a chaotic patchwork of 27 national rules with one strict system.
14:31But here goes the surprise.
14:32The brand new rulebook might already be obsolete.
14:35Look, the entire crypto topic might be a bit complex.
14:38So your reporter will do his best to safely walk you through it.
14:42Ready?
14:45On 1st of July, the EU's landmark crypto rules took full effect.
14:49And the execution was a total bust for crypto firms, especially the foreign ones.
14:54Fewer than 1 in 5 of Europe's 1,200 registered crypto companies secured a license.
14:59And those who did not, had to shut down.
15:02But the aim wasn't to regulate for the sake of regulating.
15:05Brussels wanted to stop crypto scams and protect everyday investors.
15:09And big brands like Coinbase cleared the bar.
15:12But giants like Binance got kicked out.
15:15And while Brussels was working its domestic markets, Washington rewrote the rules.
15:20Last summer, Donald Trump signed the Genius Act to back stablecoins.
15:24Ha!
15:25And if you are a bit unsure what they are, I'm here to help.
15:27They are digital currencies designed to be safe.
15:30By pegging their value to the US dollar.
15:33Like for like.
15:34But digital.
15:35And stablecoins are not a small business.
15:3895% of these tokens are tied to American currency.
15:41And Trump is using this technology to expand American financial power.
15:46After all, money is power.
15:48But here goes the plot twist.
15:50According to Euronews' exclusive report,
15:52the new EU rules fail to regulate companies outside Europe,
15:56so foreign companies can bypass them.
15:58And EU diplomats already admit the rules must be changed next year
16:01to better address how tokens created outside the EU are regulated.
16:05Look, I know it all sounds a bit complex,
16:08but it's worth knowing what all this crypto fuss is about.
16:11And you know, if you want to keep your money under the bed,
16:14to me it's fine.
16:15I won't judge you.
16:20And now moving on to another big story here in Brussels.
16:23The European Commission has proposed banning trade with Israeli settlements
16:27as part of a so-called options paper sent to EU capitals earlier this week.
16:32A majority of EU countries have been calling for proposals
16:35to restrict trade with the settlements
16:37in response to the deteriorating situation in the occupied West Bank.
16:41For more, I'm joined here in the studio by our correspondent, Marit Gwynne.
16:44Thanks for joining us.
16:45Good morning, me.
16:45Just tell us, remind us, perhaps,
16:47why there's been increasing pressure on Brussels
16:49to restrict trade with Israeli settlements.
16:51Well, yes, Maeve, the political pressure has been increasing in recent months,
16:55particularly because of the deteriorating situation in the West Bank,
16:59violence against Palestinians there,
17:01and the way the Israeli government has also been expanding these settlements.
17:05Settlements which are, of course, considered illegal
17:07under international law and by the EU.
17:10So calls now on the Commission to really do more,
17:13to restrict trade with these settlements.
17:14This is different to the calls to ban trade with Israel,
17:19to suspend parts of the EU's trade deal with Israel,
17:21calls that have been existing as well.
17:23We've heard plenty about them on the show, of course.
17:25This is about the settlements.
17:28So the Commission finally coming forth with a proposal on Wednesday,
17:31outlining potential concrete options.
17:33We first reported this on Euronews yesterday,
17:36and essentially there are three things on the table now.
17:39First would be to oblige companies in settlements to acquire special exporting licences.
17:45Secondly, to place more punitive tariffs on these products,
17:49to make it more difficult for them to be imported into the EU.
17:52And finally, and crucially, Maeve,
17:54a proposal for a full or partial ban,
17:57which is what many governments have been pushing for for months now.
18:01This will be discussed by EU ambassadors here in Brussels
18:04when they gather for closed-door discussions today,
18:06and then, of course, by foreign ministers when they're here in Brussels next Monday.
18:10And the big question, everyone's wondering,
18:11how likely is it that this will pass?
18:13Well, this is where it gets tricky, Maeve,
18:15because on paper, any trade measures in the EU
18:18should be approved by 15 member states,
18:20representing 65% of the EU population.
18:23But the Commission has suggested in this options paper
18:27that, in fact, this is a foreign policy tool
18:29and needs the unanimous backing of all member states,
18:31which is obviously a higher bar, a higher threshold to reach.
18:34And many feel that that is quite unfeasible
18:37because, of course, there are many staunch allies of Israel within the Council.
18:42This is feeding into the narrative that the Commission might be delaying
18:45or even obstructing a decision.
18:46This has been slow coming.
18:48And also, although foreign ministers will have a discussion on this on Monday,
18:51we won't hear more until they gather next in October.
18:54So don't expect a decision anytime soon.
18:56OK, we'll keep a close eye on that, Mary Gwynne.
18:58Thank you so much for that.
18:59And now it's time for the World Cup.
19:07After France booked its ticket for the semi-final last night
19:10with a 2-0 victory over Morocco,
19:12all eyes would be on Spain against Belgium tonight,
19:15who go face-to-face at nine local time.
19:18Whoever wins, it's clear now that at least
19:20one European team will make it to the big final.
19:24And there's more deja vu ahead.
19:26France against Belgium would be a replay of the 2018 World Cup semi-final,
19:31the last time France won the World Cup.
19:33And France and Spain, on the other hand,
19:35clashed more recently, remember,
19:36in the semi-final of the Euro 2024,
19:39with a better end for Spain.
19:40Whatever happens tonight,
19:42the mood here in Brussels is electric,
19:44with multiple watch parties taking place tonight.
19:46So enjoy the games.
19:48But that does bring this edition of Europe Today to an end.
19:51Thank you so much for your company.
19:52As always, take care and see you soon on Euro News.
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