Francois Villeroy de Galhau
Last quote by Francois Villeroy de Galhau
Francois Villeroy de Galhau quotes
Obviously, to face digital transformation, innovation must be at the heart of the future strategic choices of financial institutions.
In terms of revenue, one of the answers ... could be diversification of services ..., as well as possibly adapting their pricing.
As for the cost side, forward-looking planning of employment and skills must be a central lever of transformation.
We are making progress towards reaching our inflation target but must remain attentive to economic and financial developments.
I also think it is important that euro zone banks and insurers start to come up with alternative strategies in case of hard Brexit.
Nominal interest rates are now probably close to the low point, which doesn't imply they will rebound soon.
If tomorrow Britain is not part of the single market, the City cannot keep this European passport, and clearing houses cannot be located in London either.
The third and final stage of fiscal integration would only be achieved if agreement can be found both on financing and on the desirable level of business cycle synchronization.
In the short term there is a difficult challenge for the British economic and monetary policy between two contradictory challenges: there is the challenge of inflation, with the effects on inflation of the fall of the pound, which is down 11 percent since Brexit.
And then there is recession challenge with the tendency to see less growth due to the uncertainty impact on investments. And it is always very complicated for monetary and economic policy to be caught in this dilemma.
Although monetary policy has done a lot for the euro zone economy, it can't create sustainable economic growth.