Europe could have an opportunity to attract disillusioned talent from the U.S. following Donald Trump’s election, European Central Bank President Christine Lagarde suggested, urging the continent to better recognize its economic strengths.
"Europe can import disillusioned talent from Trump’s US," says Lagarde, European Central Bank president
1/31/2025
Lagarde emphasized the need for Europe to retain both its talent and capital, noting that the new U.S. administration’s decision to freeze some funding for former President Joe Biden’s Inflation Reduction Act could remove one of the incentives for investing in America.
Without directly mentioning Trump, the French central banker hinted that some Americans might be drawn to Europe after the U.S. inauguration.
“We need to keep the talent at home. We need to keep the savings at home. Maybe it is also time to import a few of the talents that would be disenchanted, for one reason or the other, from another side of the sea,” Lagarde said.
Trump’s re-election has prompted some U.S. citizens and residents to consider leaving the country, with UK-based lawyers reporting increased interest from liberal Americans looking to relocate.
Lagarde’s remarks came at the conclusion of the World Economic Forum in Davos, where investors and executives pointed to a stark contrast between optimism about the U.S. economy and deep pessimism over Europe’s weak growth prospects.
Speaking on the same panel, BlackRock CEO Larry Fink said he believed pessimism in Europe was overblown and that now might be the right time to reinvest in the region.
Lagarde acknowledged that the EU faced “existential threats” but argued that these challenges should serve as a wake-up call for European leaders to take decisive action to strengthen the bloc.
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