Banks and stock exchanges at their peak, all against Lagarde: EU leaders are angry at the European Central Bank

    Banks and stock exchanges at their peak, all against Lagarde: EU leaders are angry at the European Central Bank

    Christine Lagarde ends up accusing many of the leaders present at the European Council. The first rank of the European Central Bank and its monetary policy, consisting of a large stagnation in raising interest rates to counter inflation, was severely criticized by Italy, Spain, Portugal and Greece in the black day of stock exchanges and the collapse of European securities. banks. “The effects of repeated interventions on the cost of money on the economy have been underlined. ‘Diplomatic’ advice to correct the course of prices ”Reconstruction of the Republica at the difficult moment for the EU economy.

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    Deutsche Bank’s difficulties spread like wildfire and even northern European countries, including Germany, worried Lagarde about the stability of the banking system, asking for guarantees about solidity and imminent risks, trying to avoid another crisis like that of 2008. ” Lagarde emphasized that the need for guidance The higher discount rate stems from the legal duty to keep inflation under control. The aim is to bring it back to 2%. Then he reiterated that there will be no further automatic increases. That the situation and above all that will happen in the markets will be taken into account. Therefore, as long as there is tension, it will not The European Central Bank takes new decisions along the line drawn Then he wanted to reassure governments of the strength of the banking system “The banking sector in the euro area is resilient because it has a solid position in terms of capital and liquidity” The rest of the newspaper’s reference to Lagarde’s speech before the Council, in which he affirmed That the ECB would be willing to inject liquidity into banks in case of need At stake on both fronts are all moves aimed at reassuring the markets.

    Also read: ECB and Lagarde backtrack interest rates: ‘Stop the hikes’

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