Christine Lagarde, president of the European Central Bank: the ECB is concerned that Europe could experience an enormous economic contraction as the year goes on and wants to remain ‘flexible’. Picture: Getty
Inflation in the eurozone is running at its highest level since the creation of the single currency. While many are attributing this to the Russian invasion of Ukraine, inflation had actually spiked at 5 per cent across the eurozone in December 2021, two months prior to this. In some countries the rise is even higher. It was running at 6.5 per cent in Belgium and 10.7 per cent in Lithuania, for example, last December. The figure in...
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