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Lagarde walks out of Davos dinner over criticism of Europe’s economy
(MENAFN) The head of the European Central Bank reportedly cut short her attendance at an exclusive private dinner during the World Economic Forum in Davos after sharp criticism of Europe’s economic performance by the US commerce secretary, according to reports.
The episode took place late Tuesday at a gathering attended by senior political and business figures. Accounts of the dinner say tensions rose when the US official openly derided European economies for falling behind the United States. Witnesses described visible discomfort in the room, with some attendees reacting audibly and others leaving before the event concluded.
The dinner, hosted by a leading global investment executive and attended by more than 100 prominent figures, was intended as a closed-door discussion among global leaders. However, the atmosphere reportedly shifted after the remarks, with reactions ranging from booing to early departures. No official statements were issued by those directly involved.
The incident unfolded against a backdrop of escalating strains between the United States and Europe following threats by the US president to introduce new tariffs on imports from several European countries beginning February 1. The proposed measures would start at 10% and could rise to 25% by June unless conditions tied to Greenland were satisfied.
The US president has argued that American control over Greenland is necessary for security purposes and has declined to rule out the use of military force, raising alarm about the potential for a fresh trade dispute that could unsettle transatlantic economic relations.
European leaders have strongly pushed back against the threats, labeling them “blackmail” and a “grave mistake” in relations between allies. France’s president denounced the approach as “useless aggressivity,” while the president of the European Commission cautioned that tariffs would be an error and urged a coordinated European response. Britain’s prime minister also rejected the pressure, calling it “completely wrong” and making clear that the UK would not give in.
The episode took place late Tuesday at a gathering attended by senior political and business figures. Accounts of the dinner say tensions rose when the US official openly derided European economies for falling behind the United States. Witnesses described visible discomfort in the room, with some attendees reacting audibly and others leaving before the event concluded.
The dinner, hosted by a leading global investment executive and attended by more than 100 prominent figures, was intended as a closed-door discussion among global leaders. However, the atmosphere reportedly shifted after the remarks, with reactions ranging from booing to early departures. No official statements were issued by those directly involved.
The incident unfolded against a backdrop of escalating strains between the United States and Europe following threats by the US president to introduce new tariffs on imports from several European countries beginning February 1. The proposed measures would start at 10% and could rise to 25% by June unless conditions tied to Greenland were satisfied.
The US president has argued that American control over Greenland is necessary for security purposes and has declined to rule out the use of military force, raising alarm about the potential for a fresh trade dispute that could unsettle transatlantic economic relations.
European leaders have strongly pushed back against the threats, labeling them “blackmail” and a “grave mistake” in relations between allies. France’s president denounced the approach as “useless aggressivity,” while the president of the European Commission cautioned that tariffs would be an error and urged a coordinated European response. Britain’s prime minister also rejected the pressure, calling it “completely wrong” and making clear that the UK would not give in.
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