Globalisation has not had the last word

“Other factors will be decisive in international trade, not just cost minimisation. We will consider who produces and what, as well as in what conditions. I hope that this will bring similar countries closer to each other,” says Michal Horváth, Director of the Economic and Monetary Analysis Department of the National Bank of Slovakia.

The conversation with “Obserwator Finansowy” took place behind the scenes of the conference “Monetary Policy in a New European Reality”. The conference, which was held in Warsaw on 10 June 2022, debated the economies of the Three Seas countries, but not only that.

When asked about the possibility of taming inflation, Michal Horváth replied: It’s a difficult task to balance on the thin line that the major central banks are standing on. (…) In such conditions, a gradual – as we say in the ECB community – flexible approach dependent on the data is probably the best.
Our interlocutor also answered whether belonging to the euro area was the best solution in times of crisis, or whether having one’s own currency would bring greater benefits.