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Time for Europe to wake up amid US threats, ECB’s Villeroy says
Published by Global Banking and Finance Review
Posted on January 21, 2026
2 min read
Last updated: January 21, 2026
Europe’s Response to U.S. Tariff Threats
PARIS, Jan 21 (Reuters) – Europe must wake up in the face of threats of fresh tariffs by U.S. President Donald Trump over Greenland, European Central Bank policymaker Francois Villeroy de Galhau said on Wednesday.
Defending European Interests
“Europe must stand firm and defend itself, and Europe can also wake up and play its own cards,” Villeroy told France 2 television.
The Importance of Unity
“We must defend ourselves on tariffs. We must defend our rights over Greenland. But we have many resources. We can work together as Europeans and with our allies on artificial intelligence and, of course, carbon-free energy. As for our defence efforts, I believe it is time for Europe to wake up,” he added.
Impact on Economic Growth
“This political crisis must be resolved, but above all we must mobilise our assets around a major European project. The single market is one of our strengths.”
Villeroy said fresh tariffs by the U.S. would weaken economic growth for all parties involved, but that their impact on European inflation should be rather muted.
(Reporting by Dominique Vidalon; Editing by Bernadette Baum and Andrew Heavens)