Dear Professor Draghi, caro Mario, Excellencies, Ladies and gentlemen, Today we mark one year since the Draghi report was released. But let me go back for a moment to two years ago, when I first called you, Mario, to propose that you embark on this new mission. I remember you were intrigued by the offer. But you set one condition. You said this new report had to make a real difference. You were not interested in writing another academic paper. You wanted...

Paris, 15 September 2025 Speech by Christine Lagarde, President of the ECB, 'Conversations pour demain' on the occasion of the 25th anniversary of Institut Montaigne in Paris, France It is a great honour to be invited to celebrate the 25th anniversary of the Institut Montaigne with you. For a quarter of a century, this institution has stood out for its independence of thought. That independence has given its work both credibility and influence. As a central banker, independence has a special...

Today, the Commission has launched the European strategy on research and technology infrastructures to boost Europe's leadership in scientific excellence and technological innovation. To remain a frontrunner in the global race for science and innovation, Europe must reinforce decisively its research and technology infrastructures and make them even more integrated and accessible to a wider range of users. The strategy ensures that scientists, researchers, innovators, and industry have easy access to Europe's cutting-edge facilities, high-quality data and tailored services. It...

“Check against delivery” President Metsola, Honourable Members,   Europe is in a fight. A fight for a continent that is whole and at peace. For a free and independent Europe. A fight for our values and our democracies. A fight for our liberty and our ability to determine our destiny for ourselves. Make no mistake – this is a fight for our future. I thought long and hard about whether to start this State of the Union address with such a stark appraisal. After all,...

Rising health expenditures and population ageing prompted many governments to increase social security contribution rates in 2024, reflecting a broader trend towards increasing revenues to strengthen the long-term sustainability of social protection systems, according to a new OECD report. The tenth annual edition of Tax Policy Reforms: OECD and Selected Partner Economies provides a comprehensive overview of tax reform trends, offering cross-country comparisons and tracking policy developments over time. This 2025 edition describes tax reforms implemented in 2024 across 86 jurisdictions, including all OECD...

The European Commission's 2025 Strategic Foresight Report presents ‘Resilience 2.0', a forward-looking and proactive approach to ensuring the EU thrives in turbulent times, anticipates new challenges and creates a safe space for citizens and business. The report recognises various megatrends: climate and environmental transitions are accelerating, security concerns are rising, and global competition is reshaping economies and societies. At the same time, Europe faces questions on its strategic autonomy, competitiveness, social cohesion and the protection of democracy and fundamental values. The scale and...

Educational attainment is at an all-time high, with around half (48%) of young adults in OECD countries now completing tertiary education, up from just 27% in 2000. These graduates tend to enjoy higher earnings, more stable employment and better health, according to a new OECD report. Education at a Glance 2025 provides comparable national statistics measuring the state of education worldwide. It shows that, despite overall growth in tertiary attainment, family background continues to strongly influence who pursues higher education. Just...

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the August 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations ticked up at the short-term horizon and remained unchanged at the medium- and longer-term horizons. Unemployment and job loss expectations worsened. Job finding expectations declined to a series low. Spending and household income growth expectations remained broadly unchanged. The survey was fielded from August 1 through August 31, 2025. The main findings from...