ECB/Villeroy: Trump's Election Poses Greater Risks for the Global Economy

Forex - ECB Governing Council member and President of the Bank of France, Francois Villeroy de Galhau, stated that Donald Trump's election as the next President of the United States would mean greater downside risks for the global economy. He argued that the results should serve as a wake-up call for the EU to address its weaknesses.

Villeroy said, "The American elections should be a wake-up call for Europe," adding that concrete policy moves from Trump need to be observed, but there is a risk that his plans could lead to a higher budget deficit and more inflation in the U.S.

The President of the Bank of France also noted that the ECB would continue to lower interest rates.