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Posted on 08/25/2025 6:02:02 AM PDT by yesthatjallen
The European Union's economy would have looked far weaker after the pandemic without foreign workers, European Central Bank chief Christine Lagarde said Saturday, warning policymakers not to ignore migration’s role even as it fuels political tensions.
Speaking at the U.S. Federal Reserve’s annual symposium in Wyoming, Lagarde said an influx of foreign labor helped the eurozone absorb successive shocks like soaring energy costs and record inflation, while keeping growth and jobs intact. Employment in the bloc expanded by 4.1 percent between late 2021 and mid-2025, nearly matching gains in gross domestic product (GDP), she noted.
“Although they represented only around 9 percent of the total labor force in 2022, foreign workers have accounted for half of its growth over the past three years,” Lagarde told the gathering of central bankers. Without that contribution, she added, “labor market conditions could be tighter and output lower.”
SNIP
(Excerpt) Read more at politico.eu ...
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‘Greed is good’
Oh yeah. Here.
All sorts of them sucking on welfare. Bet he’s also trying to sell ocean front properties located in Nebraska and Saskatchewan.
And migrants can’t grow without.....?
Perhaps...perhaps not. The question now is: When is enough?
Their bankers power lies in ever-increasing debt, which must be serviced.
Their government power lies in ever-growing the welfare state and make sure the population is atomized.
The “experts” preached population control,abortion,women put career ahead of children.
What could go wrong?
Europe’s economy is also not growing with migrants. So which way do they want the EU to die?
Lagarde might have a point if the immigrants were educated and willing to assimilate.
But most of the immigrants flowing into Europe these days are neither.
Lagarde must know that.
“soaring energy costs and record inflation, while keeping growth and jobs intact”
Long version of an oxymoron.
You go live in one of the “no go” sections of Paris or Munich, Christine. After you get raped a couple times and beaten for not wearing a hijab, come back and tell us how important they are for economic growth.
So automation can’t help a society?
The devastation of the loss of natural gas from Russia is crushing the entire European economy. There is no way around that. Alternatives are LNG and that costs four times more than piped natural gas.
This price differential appears in the import column of the GDP equation and it is crushing.
Europe has the ECB, so it can create money and distribute it, but Germany traditionally has been opposed to this sort of thing, and only recently passed a special law to allow the German budget deficit to grow to fund defense spending. It’s inconceivable that the German government would pass a law allowing ECB money creation for no reason other than no economic growth.
Almost 3/4mof il.egals in the US are on government welfare of some kind, don’t work, have no intention of working. Our prisons are made up of nearly 3/4 illegals, who cost America average $150 per day per illegal. Illegals cost this nation Hu dress of billions of dollars, and likely over 1 TRILLION dollars now per year, every year. It is a stinking lie that they “just want to work and make the nation great and ‘do the jobs Americans don’t want to do’”
Illegals cost this nation far far more than they help
The problem is what you’re importing are not “workers”. They’re welfare leeches and criminals.
Yeah...not much has changed among leftists since the 1800s.
JMO, YMMV
+++++++++
I think the argument can be made that the exact opposite is true. Many of these "migrants" are on the dole just like they are here in the US. Didn't Merz just say that German welfare state is broke?
The biggest factor in their lack of economic success is their "green energy" dumbf*ckery. See California for our version of this madness.
Oh, so they are “migrating” so as to find work? The moment they arrive they are ready to go to work at a productive job? They immediately speak the language and have the skills needed?
Or is Lagarde just another insane liberal who has betrayed her country to promote her career in the EU?
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