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The ECB has raised rates by 2.5 percent since the summer (Photo: ECB)

Monetary austerity risks derailing EU green agenda, economists warn

The European Central Bank on Thursday (15 December) announced it would continue its monetary austerity stance and keep on raising rates "at a steady pace."

"We are in for a long game," bank president Christine Lagarde told press in Frankfurt. "Interest rates will still have to rise significantly at a steady pace to reach sufficiently restrictive levels to ensure a timely return of inflation."

The governing council decided to raise interest rates by another 0.5 percent, bringing th...

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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 has raised rates by 2.5 percent since the summer (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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