The layman’s narrative of the 1930s is that America’s Smoot-Hawley tariffs set off a beggar-thy-neighbour spiral and caused the Great Depression. It is not true.

The European Union faces growing threats to its trade with other parts of the world, and must respond by deepening its capital markets to finance innovation and increased productivity, European Central Bank President Christine Lagarde said.

European Central Bank President Christine Lagarde renewed her call for economic integration across Europe on Friday, arguing that intensifying global trade tensions and a growing technology gap with the United States create fresh urgency for action.

European Central Bank President Christine Lagarde said Europe's continuing struggle to innovate and the geopolitical backdrop make it even more imperative to unite its capital markets. Addressing the European Banking Congress in Frankfurt on Friday,