A Kantian shift for the capital markets union / Speech by Christine Lagarde, President of the ECB, at the European Banking Congress

Frankfurt am Main, 17 November 2023

In 1844, the American poet Ralph Waldo Emerson observed that “railroad iron is a magician’s rod in its power to evoke the sleeping energies of land and water.”^[1]

1. Emerson, R.W. (1844), “The Young American”, lecture read before the Mercantile Library Association, Boston, 7 February.