ECB President Christine Lagarde stated in an interview with French newspaper La Croix that the European economic model has long relied on three pillars: cheap energy primarily from Russia, a vast Chinese export market, and the security umbrella provided by the United States. She noted that all three pillars are currently shaking: Russian energy supplies have been cut off, China is competing with Europe in high-tech markets, and the U.S. security umbrella is at least being questioned.