Jamie Dimon gets real with Europe about shrinking to just 65% of American GDP over 10-15 years: ‘That’s not good’

She was previously an editorial leader at Bankrate, The Points Guy, and Insider, and a reporter at Bloomberg News

Ashley is a graduate of Ohio University's Scripps School of Journalism

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Patrick Bolger/Bloomberg via Getty ImagesJPMorgan Chase CEO Jamie Dimon dered a stark assessment of Europe’s economic spects at an event in Dublin hosted by Ireland’s foreign ministry, warning that the continent faces a growing competitiveness crisis

That’s not good,” he told the audience, which included Irish officials and leaders

He attributed this decline to structural issues and urged European policymakers to take bold action to reverse the trend

He added “the EU has a huge blem at the moment” when it comes to the competitiveness of its economy

Simply put, he said, “You’re losing. ” Calls for a complete single market The JPMorgan chief argued Europe’s best chance at becoming more competitive is to finish building a truly unified internal market that works seamlessly across all industries

While Dimon praised Ireland’s open economy, -friendly policies, and strong education system, he contrasted this with the broader European picture

He described Ireland as a model for economic openness but warned the wider region is hampered by regulatory fragmentation and lagging innovation. -Europe relations and tariff risks Dimon also addressed the importance of transatlantic cooperation, stating, “America First is fine as long as it isn’t America alone. ” He called for a new EU-U

Tariff framework to be as soon as possible, warning that escalating trade barriers—such as recent U

Tariffs on copper, Brazilian imports, and pharmaceuticals—could have significant negative effects, particularly for export-driven economies Ireland

Dimon cautioned financial are underestimating the risks posed by higher U

Interest rates and new tariffs

He said the market is pricing only a 20% chance of further U

He said he thinks there is “complacency” in

Given Dimon’s as an influential voice representing Wall Street, his remarks may serve as a wake-up call for European leaders and investors, underscoring the need for structural reforms and closer U. -EU collaboration to navigate an increasingly complex global economic landscape

Dimon’s remarks were previously reported by the Financial Times, Bloomberg, and the Irish Examiner, among others

For this story, Fortune used generative AI to help with an initial draft

An editor verified the accuracy of the information before publishing

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