ECB chief Christine Lagarde was opposed to protectionism in international trade during her visit to China, warning that this policy undermines the foundations of world prosperity.

“Forced trade policies are not a viable solution to today’s commercial tensions,” European Central Bank chief Christine Lagarde said on Wednesday in a speech at the People’s Bank of China in Beijing.

To the extent that protectionism faces the imbalances, it does not resolve their deeper causes, but undermines the foundations of world prosperity, “he said,” and with countries now deeply integrated through global supply chains – but no longer as geopolitical. Forced commercial policies are much more likely to cause retaliation and lead to results that are mutual harmful. “

The ECB leader, although not named after US President D. Trump, essentially photographed him, pointing out that for duty policy: “If we are seriously up to maintain our well -being, we must seek cooperative solutions – even in the face of geopolitical differences,” them. “

Kr. Lagarde concluded by saying that “given national security and experience estimates during the pandemic, a certain degree of risk reduction is here to stay,” Lagarde said. “A few countries are willing to remain dependent on others for strategic industries.”

Greek head at the ECB’s Market and Payment Infrastructure Directorate General

In the meantime, the ECB has announced that the European Central Bank (ECB) Executive Committee has appointed Thomas Vlassopoulos as General Manager of Infrastructure and Payments. Today the ECB works about 270 Greeks and Mr Vlassopoulos is the first to occupy such a high office in the Central Bank’s inner hierarchy.

Thomas Vlassopoulos is currently Deputy General Manager of Market Operations, a position he holds since May 2021. He joined the ECB’s Directorate -General for 2008 by the Bank of Greece. Mr. Vlassopoulos holds a master’s degree in Economics from the London School of Economics and Political Science.

The Directorate-General for Market and Payment Infrastructure (DG-MIP) coordinates and supports the operation and development of Target Services, exerts the supervision of payment, liquidation and settlement systems and acts as a catalyst for innovation in retail payments, as well as for new technologies. Bank. It also leads the project for the digital euro.