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Tsunami, ECB announcement, Lagarde freeze everyone: savings at risk?  ▷ Rinaldi: 'A disaster with our money'

Tsunami, ECB announcement, Lagarde freeze everyone: savings at risk? ▷ Rinaldi: ‘A disaster with our money’

Finally came the announcement, the European Central Bank, through the voice of President Christine Lagarde, formally decided to raise interest rates. After 11 years of expansionary monetary policy, the European Central Bank made the decision to rein in liquidity by seeking to cool an overheating inflation economy. The interest rate announced by Lagarde will be raised from July by a quarter point increase.

The ECB decision follows the dynamics already initiated by the Federal Reserve, the US central bank. In addition to interfering with interest rates, Lagarde, both a key point, has announced the end of a plan to buy public and private securities. According to Maria Antonio Rinaldi, MEP for Lega, Lagarde’s decision was a huge mistake, endangering the Italian budget and our country’s economy at a sensitive moment. The European Central Bank is being assessed at a critical moment, two years after the pandemic and the massive increase in energy prices due to the conflict in Ukraine.

For Rinaldi, the announcement of the European Central Bank, without providing an alternative economic support plan at a critical stage in the global economy, represents a serious risk factor for Italy. Markets appear to have confirmed Rinaldi’s concerns, with a major crash in the Milan Stock Exchange following the words of the European Central Bank chief.

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