Europe itself can emphasize as a superpower amid a tariff: Kazāks from the European Central Bank

The Latvia Bank governor told CNBC on Thursday that the uncertainty about commercial tariffs is complicated, but the uncertainty also provides Europe with an opportunity to assure itself as an economic and geopolitical superpower.

“With all this uncertainty and weakness, this is also the time of opportunities for Europe,” said Martich Kazak, a member of the European Central Bank Board of Directors.

After the global financial crisis, he said: “It is time for Europe to understand all aspects of being a great economic power and become a completely political and geopolitical power, and this requires all decisions that have not been fully implemented in the past,” after the global financial crisis. The head of the Central Bank of the Capital Markets Syndicate, the Financial Union and one market in services were martyred as examples of more integration that was required.

“This requires political will, the political courage to make these decisions, enhance the European economy and confirm its place in a global world,” said Casoline Caroline Roth of CNBC on the sidelines of the International Monetary Fund Bank meetings for the missing bank in Washington this week.

When asked what the definitions mean for the European Central Bank, Which carried out the rate reduction of 25 Basis At his meeting in April, Kazak said that the decisions will be taken “from meeting to meeting because of this very bad vision.”

He pointed out that “uncertainty is very difficult,” adding that “it is certain that it is a very weak situation for the global economy.”

“Political statements, political decisions, political environment, especially the war of customs tariffs are what creates this very high uncertainty.”

Kazāks said the financial markets should be monitored very carefully for any exciting transformations in feelings.

“So far it seems to be relatively organized … but if one looks at the prior effects of Europe, the financial markets operate in one way or another, we have not seen differences that explode or anything like that,” he said.

“But in terms of total scenarios, this uncertainty is very high in the sense that, given the possible results, multiple scenarios and their possibilities are very similar to the basic line scenario (tariff),” he said.

Although the preliminary duties announced by US President Donald Trump in early April, as well as the European Union’s reprisal measures, They were stopped for 90 days until JulyThere are concerns about the broader influence on regional and global economic growth as soon as this period ends.

The International Monetary Fund expects earlier this week that the GDP of the United States It will expand by 1.8 % in 20250.9 percentage points from January forecast. The fund also reduced its global growth expectations to 2.8 % this year, a decrease of 0.5 percentage points from its previous estimation.

The fund expected a slight decrease in the euro area, expecting the gross domestic product of the euro region to reach 0.8 % in 2025, before declining modestly to 1.2 % in 2026.

Kazak said that the expectations of the International Monetary Fund were on the optimistic side, and that the risk of global recession was “not trivial.”