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Lagarde names Europe's best defense against Trump

Lagarde names Europe's best defense against Trump ECB President Christine Lagarde (Getty Images)
Author: Maria Kholina

The best strategy to prepare for the potential return of Donald Trump to the White House in 2025, according to Christine Lagarde, the head of the European Central Bank, is to support a unified European market.

"The best defense, if that’s the way we want to look at it, is attack. To attack properly, you need to be strong at home. So being strong means having a strong, deep market, having a real single market," Lagarde said in Davos.

Trump solidified his leadership status within the Republican Party by winning the first stage of the Republican Party primaries in Iowa for the 2024 elections - an event that raised concerns among participants at Davos.

Earlier, Lagarde emphasized that his potential victory in the November presidential elections in the United States could jeopardize global trade, support for Ukraine, and efforts to combat climate change.

"We are all concerned about it because the United States is the largest economy, the largest defense country in the world and has been a beacon of democracy, with all its upside and downside. We have to be extremely attentive," Lagarde said earlier this week.

Her calls for strengthening the single market are a constant demand. Today, she urged the creation of a more powerful securities oversight body in Europe as one of the measures promoting capital market integration.

Recall that Donald Trump secured an unprecedented victory in the intra-party elections of the Republican Party in Iowa. Trump's result reflected his popularity among Republican voters, even after two impeachments and his involvement in the January 6, 2021 attack on the U.S. Capitol by a mob of supporters.