In a speech at the Fête de la Pomme in Normandy, European Central Bank President Christine Lagarde argued that Europe must deepen integration of its energy networks, services markets, capital markets and payment systems to protect regional prosperity in a more volatile global economy. She contrasted the Single Market’s support for goods and regional products with persistent barriers to cross-border services and investment, which constrain European companies’ ability to grow and push savings and business founders abroad. Lagarde called for stronger electricity interconnections to distribute low-carbon power more efficiently and reduce price volatility, alongside more integrated markets that channel European savings into European companies. She cited Mistral’s EUR 3 billion fundraising as evidence that European technology companies can scale with domestic capital, while ECB estimates suggest rapid artificial intelligence adoption could make the euro area economy about EUR 630 billion larger annually within a decade, equivalent to roughly EUR 1,800 per person. For the ECB, Lagarde reiterated that maintaining inflation at 2% over time prevents external price shocks from becoming entrenched. She also presented the digital euro as a means of reducing reliance on two non-European providers that process about two-thirds of euro area card payments, offering a European payment option for online and offline use alongside cash.

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