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JPMorgan CEO warns that a weak Europe threatens US economic stability
The Chairman and CEO of JPMorgan Chase, the United States’ largest bank, warns that the ongoing economic frailty of Europe could jeopardize US economic stability. Jamie Dimon stated that a “weak” Europe is not just a European problem, but one with serious implications for global growth, trade flows, and ultimately, the US economy.
“If Europe goes down, we all go down,” Dimon warned, underlining that sluggish growth, burdensome regulation, and sluggish productivity on the continent represent a systemic risk for transatlantic and global prosperity.
He made these remarks during the Reagan National Defence Forum, which was held on Saturday, December 6. At this time, Dimon insisted that “Europe has a real problem.”
Jamie Dimon Reportedly Warns Europe Has 'Real Problem,' Says Long-Term Strategy Needed To Help Them Become Strong: 'Weak Europe Is Bad For Us'
JPMorgan Chase CEO Jamie Dimon on Saturday reiterated his warning on Europe, stating that the bloc has a "real problem" on its hands.
Speaking at the Reagan National Defense Forum, Morgan highlighted concerns over Europe’s slow bureaucracy and its potential economic impact on the U.S., according to a report by Fortune.
Dimon emphasized that Europe’s bureaucratic hurdles have driven away business, investment, and innovation, posing significant risks to the US economy. He acknowledged that some European leaders recognize these issues but noted that political challenges remain formidable.
"We need a long-term strategy to help them become strong. A weak Europe is bad for us," he said.
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