Bce, tassi everyone
If a saver or an investor wants to make a bet on the financial markets usually resorts to derivativesif he “guesses” he gains, if he loses he remains with the match in his hand. Why am I talking about betting? For the simple reason that there is a person, supported by his board, who bets without taking out a cent, who am I referring to?
A Christine Lagarde, who nonchalantly declared the following the day before yesterday: “Keeping the ECB deposit rate at record levels should (should? ed.) contribute to reducing inflation to 2%”.
Over the last week, central bankers have provided different interpretations of this indication: one side says the next move will probably be a rate cut, while the other says the chance of another hike could be close to 50%. ECB, Lagarde bets that maintaining record rates will curb inflation.
And, at the same time, he declared to the European Parliament: “In any case, our future decisions will ensure that the ECB’s key interest rates will be set at sufficiently restrictive levels for as long as necessary.”
READ ALSO: ECB, rate rises bring Europe to its knees
Lagarde at a hearing in the EU parliament: “Maintain current rates to cut inflation”. But if this “gamble” were to “crumple” the economy and finance of the 27 member states (besides that of families and companies) what does Lagarde and her board lose? At most they will be able to say: sorry we were wrong.
What do they care if they enjoy the most absolute immunity? And again, he doesn’t pay for the above statements, what else did he say? “A strong economic governance framework is to a large extent in our common interest,” to then give directives regarding the reduction of sovereign debt and the anti-cyclicality of fiscal policy”.
By now we have understood that President Lagarde, in addition to dealing personally and exclusive to European monetary policy, provides “unsolicited” advice and wand Commissioners, European Parliament and Governments.
This is the second time that I have asked for a review of the mandate of the ECB, unfortunately I don’t have the power, but I hope that someone, with a lot of common sense, will start to think about it and perhaps act in this direction. I close with a Latin proverb so that no one dares to hinder the work aimed at achieving the 2% dogma. Cava canem – watch out for the dog – watch out for the dog – watch out for the dog.
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