This is how ECB President Lagarde explains the renewed rate hike

I now assume that Mme Lagarde deliberately created the inflation of 2020-22.
There is no other way I can explain why tried-and-tested recipes such as earmarked special bonds, facilitation in lending (Basrl 2 or 1 instead of 3), bill financing, etc. were not used. Every bank apprentice learns this in their first year of training.

Well. At least I have acknowledgments that the ECB and Ms. Lagarde received my letters at the time. And yes, that would have worked. Of course.

Even a change to Svhecks and “cover letters” instead of government aid in € would have halved inflation.

source site-15