A 'Fortress Europe' isn't being built to challenge China or US, ECB's Mersch says
A key member of the European Central Bank has said Europe isn't about to close its doors to foreign partnership and investment.
"I have not seen Fortress Europe. I still think we are still the most open economy that exists around the globe. We have welcomed foreigners into our economy to an extent that is much larger than other jurisdictions," he said. And in February, both countries agreed to create European"Industrial Champions" that could combine expertise and scale to take on heavyweight rivals from the U.S. and China.
"If the whole world is playing rugby we cannot continue to play football. That makes it one reason why we have to reflect a little bit on where our bottom lines are for certain values."
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