The European Central Bank must raise interest rates because of inflation caused by Russian President Vladimir Putin’s war in Ukraine, ECB President Christine Lagarde said.
“This is what he [Poutine] is trying to do, cause chaos and destroy as much of Europe as he can“, said Christine Lagarde during an appearance on the program RTE’s Late Late Show in Ireland. “This energy crisis causes massive inflation that we must overcome“, she added.
“Anyone who behaves in this way must be driven by evil forces“Christine Lagarde said of Vladimir Putin, adding that the Russian president “sick” is a “terrifying person“.
Referring to her previous meetings with the Russian leader, she described him as a “incredibly super-briefed person” to “flashing and icy eyes“.
She further stated that the upsurge in inflation in Europe was “virtually out of nowhere.”
“Inflation came from nowhere”
Yes. She really just said that on TV..
– Tweed Cap (@CapTweed) October 28, 2022
The central bank announced a further interest rate hike on Thursday to combat inflation, taking eurozone rates to their highest level since 2009.
“We do it because we fight inflation“, said the ECB president, also pointing to a faster-than-expected economic rebound after the pandemic as a cause alongside the energy crisis.
While Christine Lagarde has drawn fire from senior European politicians for her rate decisions, she said they were aimed at controlling the cost of living. In September, inflation in the eurozone reached 10 percent.