Paris [France], November 7: Donald Trump's victory in the U.S. presidential election "increases the risks for the global economy," the governor of the French central bank said on Wednesday at a conference in Lyon, France.
Banque de France (BDF) governor Francois Villeroy de Galhau told French daily Le Figaro that the Trump administration will probably lead to more protectionism, more inflation, and less growth everywhere in the world.
The U.S. budget deficit is likely to be higher under Trump's new administration, which could increase uncertainty and impact negatively on global economic growth, de Galhau said.
The American election should be a "wake-up call" for Europeans after a "long period of numbness, he added, as "Europe is approaching this new situation with obvious weaknesses."
Trump declared victory on Wednesday morning. French President Emmanuel Macron was one of the first leaders to congratulate him, saying on social media platform X: "Ready to work together as we did for four years. With your convictions and mine. With respect and ambition. For more peace and prosperity."
Source: Xinhua