November 29, 2018 / 6:58 PM / a year ago

ECB's Villeroy sees 'very dangerous' global economic crisis risks

FILE PHOTO - European Central Bank policymaker Francois Villeroy de Galhau, who is also governor of the French central bank, attends the Paris Europlace International Financial Forum in Tokyo, Japan, November 19, 2018. REUTERS/Toru Hanai

ROME (Reuters) - French central bank chief Francois Villeroy de Galhau, asked on Thursday about global economic risks, said the situation had “become very dangerous”.

Villeroy, a European Central Bank policymaker, told a gathering of students that risks in Europe had already been spelled out by the European Central Bank.

Outside Europe, he cited “the U.S policy mix,” with rising protectionism and “fiscal stimulus when there is already an almost overheating economy.”

He also mentioned “some emerging economies where debt has increased significantly, especially private debt.”

“The situation has become very dangerous and we are paid to be cautious,” he said.

Reporting by Gavin Jones; Editing by Crispian Balmer

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