MNI BRIEF: Momentum For EU Reforms But Speed Needed - Lagarde

There is currently momentum for the EU reform agenda in the line of Mario Draghi’s report, but European political leaders need topick up the pace in delivery, European Central Bank president Christine Lagarde said on Tuesday.

“Change [in the world] is taking place at a much faster speed than 20 years ago,” she said answering to a question in an event as a praise for the EU to move. However, Lagarde said that the ECB is monitoring how much of the report has been achieved, signaling it could be more than the 11% Draghi indicated

Answering questions, Lagarde also said that redirecting of Chinese trade due to a reaction to U.S. tariffs is not yet taking place in the amount the ECB expected. “We haven’t seen much of that,” she said.