ECB future and European growth: Professor Richard Portes on Bloomberg
LBS's Richard Portes discusses Christine Lagarde’s legacy, productivity challenges, and France’s political future on Bloomberg Surveillance
Speaking today - 30 October 2026 - on Bloomberg Surveillance with hosts Tom Keene and Paul Sweeney, Richard Portes, Professor of Economics at London Business School, shared his insights on the future of the European Central Bank (ECB) and the structural hurdles facing the European economy.
Reflecting on the legacy of ECB President Christine Lagarde, Professor Portes described her as a safe, forward-looking steward who has maintained a consensual council. He noted that while replacing her will be a significant task, her current focus remains on public sphere contributions rather than entering French politics early.
Turning to the broader European economy, Portes highlighted long-standing productivity issues and the continent's heavy reliance on imported oil as critical pressures. He emphasised that resolving Europe's growth lag requires a substantial increase in private investment, particularly in forward-looking sectors that incorporate artificial intelligence, rather than relying on state bailouts or interventions.
Listen to the full interview here