Italian ECB Governing Council member Fabio Panetta warned today that rising protectionism poses a serious threat to global economic stability
Speaking at an event, Panetta said, “Openness to trade has benefited both advanced and developing nations, reducing inequality and lifting hundreds of millions of people out of extreme poverty.”
However, “protectionism threatens to undo these achievements and to weaken the very fabric of global prosperity,” he added.
He emphasized that geopolitical tensions, alongside growing uncertainty in global trade, are becoming central considerations for policymakers.
