Faced with the threat posed by the conflict in Ukraine to the economy of the euro zone, the ECB risks falling from Charybdis to Scylla.
By Marc Vignaud
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Ihe Minister of Economy and Finance Bruno Le Maire warned: “Freedom has a price, the defense of freedom in Ukraine has a price, the defense of our most fundamental values has a price. Thursday, March 10, the European Central Bank (ECB) will have to explain how it will try to control the economic cost of the war in Ukraine and Western sanctions against Russia for the euro zone.
Imported inflation, due to the increase in the prices of gas, oil and coal, as well as raw materials in general, such as wheat, will hit the European economy hard. “The rise in prices, insufficiently offset by that in wages, will depress the purchasing power of households and therefore reduce their consumption. Rising raw material costs…
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