Fun

ECB President Christine Lagarde Blames Climate Change for Europe’s Torrid Inflation

News Feed - 2022-08-29 01:08:13

ECB President Christine Lagarde Blames Climate Change for Europe’s Torrid Inflation


According to the French politician currently serving as the president of the European Central Bank (ECB), Christine Lagarde, Europe’s scorching hot inflation can be blamed on climate change. During her interview with Madame Figaro, Lagarde stressed that people need to take into account that “climate disasters” affect price stability a great deal. ECB Board Member Isabel Schnabel Says Inflation Makes It Difficult for Central Banks to Control Price Pressures — Christine Lagarde Insists Climate Change Needs to Be Taken Into Account


Last June, Euro area inflation printed 8.6% and the following month in July, the European inflation rating jumped even higher to 8.9%. While Federal Reserve chair Jerome Powell vowed to tame inflation on Friday, ECB executive board member Isabel Schnabel and Banque de France governor François Villeroy de Galhau told the press a larger “sacrifice” is needed to curb Europe’s rising inflation.


“Central banks are likely to face a higher sacrifice ratio compared with the 1980s,” Schnabel said on Friday. “Even if prices were to respond more strongly to changes in domestic economic conditions, as the globalisation of inflation makes it more difficult for central banks to control price pressures,” the ECB executive board member added.


Meanwhile, a recent Madame Figaro interview featuring ECB president Christine Lagarde shows that the central bank’s lead believes Europe’s inflation can stem from climate change.


Largarde is not the only person that has connected inflation to the alleged long-term shifts in temperatures and weather patterns worldwide. On August 15, the New York Times published an editorial on how specific policies can fight inflation by battling climate change at the same time. The Biden administration is following the same trend, as the recently implemented bill called the Inflation Reduction Act, claims to reduce inflation by fighting climate change.


Largarde wholeheartedly believes climate change has affected price stability and she noted that further climate disasters could hurt the global economy. “If more and more climate disasters, droughts, and famines occur throughout the world, there will be repercussions on prices, on insurance premiums, and on the financial sector,” Largarde insisted during the Madame Figaro interview (English translation here). The ECB Chief further added: We need to take that into account.


Europe is struggling with rising energy costs tied to the Ukraine-Russia war, but a number of media publications insist that “extreme heat in the U.S., Europe, and China is slamming economies around the world and making inflation worse.” Analysts also assume that Europeans may face an extremely harsh winter when the seasons change. During Largarde’s interview published on August 25, the ECB president was asked if she bears “any weight of the responsibility” when it comes to Europe’s gloomy economy.


“Yes, absolutely,” Largarde remarked during her interview with the French media outlet. “I still buy my groceries at the supermarket, pay my own bills, including my gas bills, and meet people at the market, as life here at the ECB can be a little removed, disconnected, and punctuated with econometric models and projections. I move forwards with a sense of duty and humility.” Tags in this story central banking, Central Banks, Christine Lagarde, Climate, climate change, climate crisis, Climate Disasters, droughts, ECB, ECB executive board member, ECB President, economics, Europe, Europe’s gloomy economy, European Central Bank, famine, Federal Reserve, Finance, inflation, Inflationary pressure, Isabel Schnabel, jerome powell, Lagarde climate, Rising Inflation, the fed


What do you think about ECB president Christine Lagarde saying climate change is to blame for the scorching European inflation? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Powell Says Fed’s Battle With Inflation Will Bring ‘Some Pain,’ After Insisting Last Year Elevated Inflation Is ‘Likely to Prove Temporary’ ECONOMICS | 1 day ago Report Claims Russia and Iran Plan to Establish a Global Gas Cartel, Moscow to Launch Its Own Precious Metals Exchange ECONOMICS | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMarket Strategist Expects Stock Market to Drop 50% From Here, Says There’s ‘Going to Be No Middle Class Left’ Next articleCoinbase Discloses It Will ‘Evaluate Any ETH Fork Tokens Following The Merge’ Show comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits


As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

News Feed

Coinbase stock jumps 60% in 2024, recovers listing price
Ana Paula Pereira5 hours agoCoinbase stock jumps 60% in 2024, recovers listing priceCOIN stock has rebounded to surpass the $250 mark for the first time in two years. Over the past 12 months, Coinbase shares have climbed
Boerse Stuttgart’s Crypto Exchange Live for All Traders in Germany
Boerse Stuttgart"s Crypto Exchange Live for All Traders in Germany Germany’s second-largest stock exchange, Boerse Stuttgart, has opened up its cryptocurrency trading platf
Celsius Stories Littered With ‘People Familiar With the Matter’ Sources, Report Claims Lender Struggles With Arguments Over Bankruptcy
Celsius Stories Littered With "People Familiar With the Matter" Sources, Report Claims Lender Struggles With Arguments Over Bankruptcy The embattled crypto lending platform Celsius
Bitcoin Price On The Brink: Failure To Hold This Level May Trigger Crash To $74,000
Este artículo también está disponible en español. Bitcoin (BTC) and other cryptocurrencies are experiencing renewed selling pressure as escalating trade tensions between
Former US President Donald Trump: Cryptocurrencies Are ‘a Disaster Waiting to Happen’
Former US President Donald Trump: Cryptocurrencies Are "a Disaster Waiting to Happen" Former U.S. President Donald Trump says cryptocurrencies are “potentially a disaster wa
This Year’s Top 10 Crypto Asset Gainers Outshined BTC’s and ETH’s 12-Month Returns
This Year"s Top 10 Crypto Asset Gainers Outshined BTC"s and ETH"s 12-Month Returns Digital currencies had a phenomenal 2021 as the crypto economy surged past a couple of trillion d
Solana Horizontal Support Under Pressure – Bearish Target At $142
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’
French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming "Vassals" Emmanuel Macron, president of France, clarified his position
UK Tax Agency to Pay $100K for Blockchain Surveillance Software
UK Tax Agency to Pay $100K for Blockchain Surveillance Software On January 17, the UK tax agency Her Majesty’s Revenue and Customs (HMRC) published a job opportunity for a
Analyst Says Dogecoin Has Entered Another Bull Cycle, Puts Price Above $20
Este artículo también está disponible en español. Crypto analyst Javon Markshas provided a bullish outlook for Dogecoin, stating that the foremost meme coin has entered a
New High For TRON, But Bearish Signals Cast Shadows On The Rally
Este artículo también está disponible en español. The price of TRON (TRX) has been on an impressive run of late and established a double-top technical formation. Technica
Tom Blackstone15 minutes agoUSDR stablecoin depegs to $0.53, but team vows to provide solutionsReal-estate-backed stablecoin USDR fell to $0.53 per coin on Oct. 11, but the team said it was merely a liquidity issue and t