RIYADH: Bruno Le Maire, French minister of economy and finance, told delegates at the Future Investment Initiative (FII) in Riyadh on Thursday that the next G20 meeting in Rome would be the “perfect occasion” to draw on three important lessons from the pandemic.
The first lesson is that supporting economies swiftly and decisively is “absolutely critical.”
“We have decided to take very strong measures to support employees, private companies, and while doing so avoided a rise in unemployment figures and a rise in bankruptcies all over Europe,” Le Maire said.
What can we learn from this global crisis – and how can we apply these lessons to our post-pandemic world? H.E. @BrunoLeMaire, Minister of Economy, Finance and Recovery of France, is looking to the future at our FII 4th Edition. #FIINeoRenaissance pic.twitter.com/JRAWAHiG2z
— FII Institute (@FIIKSA) January 28, 2021
“We have to stand together” was the second lesson mentioned by the French minister. Common debt issuance in Europe provided better access to financial markets and limited the possibility of a rise in interest rates.
The third lesson Le Maire focused on was the need for “sustainable development and sustainable growth.”
“We can no longer have the same kind of growth as the one we had before the crisis. There is a need for investing more in new technologies and innovation for the sake of emitting less CO2 and having a sustainable economy,” he said.