Bundesbank chief Nagel: Europe's future hinges on renewal, not heritage

In a gala speech ahead of an external ECB Governing Council meeting, Bundesbank President Joachim Nagel framed Europe's economic trajectory as a choice between preserving legacy and pursuing renewal. The remarks signal a reformist, growth-oriented tone from a key hawkish voice, though no specific policy commitments were made. The speech matters as it hints at ECB internal debates over structural reform and competitiveness.