Blackstone CEO: Europe Faces More Severe Fiscal Risks Than the U.S.

Blackstone CEO Jon Gray warned that fiscal pressures pose a more urgent risk to France, the UK, and other parts of Europe than to the United States. 'The U.S. will have to face difficult choices, but I think the challenges facing France, the UK, and continental Europe are more severe right now,' Gray said Tuesday at the Bloomberg Innovation Economy Forum in New Delhi. 'Because growth rates there are much lower,' and 'the deficit is very large.' He noted that the U.S. is currently containing worsening debt issues by leveraging accelerated economic growth driven by the artificial intelligence (AI) boom.