ECB Chief calls for supporting innovation to benefit sustainable growth

Asserting that the pandemic provides an opportunity to harness new technologies, European Central Bank (ECB) President Christine Lagarde, on November 20, called on the policymakers and the industry to support innovation and invest in education and other areas that benefit sustainable growth in the long run.

While speaking at the 30th Frankfurt European Banking Congress with the theme “towards a new sustainable growth model”, Lagarde said that Europe would face many challenges arising from both the pandemic and long-run trends in the coming years.

“To further unleash Europe’s potential in innovation governments need to remove barriers for innovative firms and allow them to take full advantage of the Single Market and achieve economies of scale,” she added.

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