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German tabloid attacks ECB chief Lagarde as ‘Madam Inflation’ By Reuters



© Reuters. FILE PHOTO: President of the European Central Financial institution (ECB) Christine Lagarde takes half in a information convention on the result of the Governing Council assembly, in Frankfurt, Germany, October 28, 2021. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) – Germany’s best-selling tabloid Bild scathingly criticised European Central Financial institution (ECB) President Christine Lagarde on Saturday, accusing her of destroying the earnings and financial savings of odd folks by tolerating an increase in inflation.

The article, echoing a Bild assault on Lagarde’s predecessor Mario Draghi in 2019, could sign contemporary hostility in direction of the ECB on the a part of the German public, which has for a decade been sceptical of the financial institution’s ultra-easy coverage.

Two days in the past the financial institution left charges coverage unchanged regardless of shopper worth progress hitting a 13-year excessive.

The newspaper referred to as Lagarde “Madam Inflation,”, accusing her of being a high-earner who appreciated carrying luxurious trend and saying she did not appear to care about odd folks’s difficulties. “Christine Lagarde is melting pensions, wages and financial savings,” it stated.

Requested in regards to the article by Reuters, an ECB spokesperson famous that in her Thursday information convention Lagarde had acknowledged inflation is “clearly of concern” to residents, and stated policymakers did a “lot of soul-searching” earlier than holding off on tightening coverage.

Bild’s assault comes per week after German central financial institution chief Jens Weidmann, an outspoken critic of ECB coverage, stop his job, arguing that 10 years within the function is sufficient whereas additionally warning over inflation dangers.

Inflation within the euro zone hit 4.1% this month, equalling its all-time-high, whereas German inflation is even increased, possible approaching 5% by yr finish.

($1 = 0.8650 euros)

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