23/04/24 (Agence Europe) – At meetings organised by the Institut de la Finance Durable (Paris Sustainable Finance Institute) on Monday 22 April, the Governor of the Banque de France, François Villeroy de Galhau, called for a deepening of the capital markets union to bring together the private resources needed to finance investments to support climate change mitigation and adaptation. He warned against the “monetary illusion” and the illusion of massive budgetary financing. Philippe Ramos, from the NGO Positive Money Europe, felt that the Governor was biased in his examination of money creation and felt that certain investments could reduce or limit inflation. Mr Ramos also stressed that the ECB was independent, and was surprised to hear “the governor’s view on how the French government spends the people’s money”. (EV)