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The ECB Forum on Central Banking is an annual event organised by the ECB held in Sintra, Portugal. (Photo: ECB)

Analysis

What are political implications of the ECB monetary austerity?

Central bankers met in the Portuguese town of Sintra last week to discuss how to respond to inflation, which has proven more persistent than expected.

With core inflation still at 5.3 percent in the eurozone, European Central Bank (ECB) president Christine Lagarde — against the backdrop of one of the most ebullient fairytale palaces in Europe — announced an essentially open-ended policy of belt-tightening, the severest the EU has seen.

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

The ECB Forum on Central Banking is an annual event organised by the ECB held in Sintra, Portugal. (Photo: ECB)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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