Gabriel Makhlouf: Europe is still the best place to live 

Ireland’s central bank chief said the 'one incredibly powerful thing we have in Europe is the spirit of togetherness and a recognition that connections matter'

Gabriel Makhlouf: 'I can’t think of a better place for my family to live — and I’ve travelled all over the world.' File picture: Paulo Nunes dos Santos/Bloomberg

Ireland’s central bank chief cautioned against only focusing on Europe’s problems, saying it’s still the most livable part of the world.

“I can’t think of a better place for my family to live — and I’ve travelled all over the world,” Gabriel Makhlouf told bankers and journalists at an event in Washington on Saturday.

Before taking over the Irish central bank in 2019, he was New Zealand’s top treasury official. 

He was a UK civil servant and an aide to former prime minister Gordon Brown before that.

Born in Egypt, he holds British and Greek passports.

“The one incredibly powerful thing we have in Europe is the spirit of togetherness and a recognition that connections matter — and we spend a lot of time agonising about all sort of things,” he said.

“But actually the way I look at it, the agony is about what more potential can we fulfill, as opposed to — is there a problem that we can’t resolve.”

Europe’s economy is struggling through a phase of sluggish growth at the moment, with consumers hesitant to spent despite slowing inflation, rising wages and a strong labor market. 

Businesses also aren’t particularly eager to invest amid heightened uncertainty and geopolitical risks.