Dr. M on Nostr: Ursula von der Leyen, the president of the European Commission, announced at an event ...
Ursula von der Leyen, the president of the European Commission, announced at an event called the AI Action Summit that she would "mobilize" 200 billion euros in "investment in AI in Europe" and boasted that it was "the largest public-private partnership in the world to build a trusted AI industry."
Although she wisely used the word "mobilization," what she really meant was that the ECB would print or issue new money for this purpose. This initial 200 billion will certainly quickly become much larger sums because that's how public-private partnerships work in practice - costs increase. But even if they were to stay at that 200 billion, that would still be a pretty solid pressure of new money on the European market that would certainly increase inflation.
#EU #ECB #inflation
Although she wisely used the word "mobilization," what she really meant was that the ECB would print or issue new money for this purpose. This initial 200 billion will certainly quickly become much larger sums because that's how public-private partnerships work in practice - costs increase. But even if they were to stay at that 200 billion, that would still be a pretty solid pressure of new money on the European market that would certainly increase inflation.
#EU #ECB #inflation