Luis de Guindos analyzes the economic challenges at the IE University Leadership Forum

Luis de Guindos, Vice President of the European Central Bank (ECB), participated in the IE University Leadership Forum today, warning that a cooling economy could affect the wider European labor market. De Guindos noted that growth outlook "is on the downside" and that employment, which had resisted as a pillar of the economy in the euro zone, will be affected.

Spain's Economy Minister between 2011 and 2018, De Guindos defended the ECB's decision to keep interest rates unchanged after their tightening in recent months, saying: 

"The increases continue to be transmitted strongly to financing conditions, which is helping to reduce inflation."
Luis de Guindos, Vice President of the European Central Bank (ECB)

The event, which took place at IE Tower, IE University's Madrid headquarters, was attended by Diego del Alcázar Benjumea, CEO of IE University, and Manuel Muñiz, Provost of the academic institution, along with business leaders.  The IE Leadership Forum brings together senior business leaders with figures from the political and institutional world to discuss global economic, geopolitical and financial trends.