Europe Must Embrace Its Strengths and Add Scale, Schnabel Says

Europe has what it takes to build a thriving economy, but it must step efforts to implement reforms and embrace change, according to one of its top policymakers.

The continent is neither lacking ideas nor talent, and is one of few regions in the world where democracy and the rule of law remain firmly entrenched, European Central Bank Executive Board Isabel Schnabel said in a speech in Vienna. What’s needed is scale — and courage — to strengthen its economy.