The head of the central bank is under pressure after the turbulence in the banking market.
(Photo: Reuters)
Denver, Frankfort Larry Summers is not known to be a big fan of central bankers. But on Thursday, the former US Treasury Secretary found only words of approval for the currency watchdogs in the euro area.
The European Central Bank (ECB) deserves the grade “one plus” for its decision to raise the key interest rate by half a percentage point as planned, despite the looming banking crisis. ECB President Christine Lagarde has shown that she can continue to fight inflation and support the banking system if necessary.
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