Prime minister says central bank’s ‘simplistic’ approach likely to hurt eurozone economies
EU economyItalian prime minister Giorgia Meloni has lashed out at the European Central Bank for its repeated interest rate rises, saying its “simplistic” approach to combating inflation was likely to hurt European economies more than help them.
“It’s right to fight [inflation] hard but the ECB’s simplistic recipe of raising interest rates does not appear to many as the correct path to pursue,” she said. “We cannot overlook the risk that the constant rise in rates will end up affecting our economies more than inflation.
“Our job is not done,” she said. “We have made significant progress but — faced with a more persistent inflation process — we cannot waver, and we cannot declare victory yet.”
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