Christine Lagarde

If the “prescription” of an unprecedented interest rates increase inspired by the guardians of economic stability in the eurozone does not succeeds, we shall pay a heavy price.

'Our economy-wide climate stress test shows the benefits of acting early on climate issues. The short-term costs of the green transition are heavily outweighed in the long run by the benefits of avoiding costly disasters such as wildfires, heatwaves and droughts.'

The ECB decided to hike the pandemic QE by 500mn euros and approved a nine-month extension of the programme through March, 2022.

The EU summit on 23 April should demonstrate that not only has Europe learned from the mistakes of the past but also that the Union knows how to act swiftly.

Much like her predecessor Mario Draghi, ECB chief Christine Lagarde has declared she will do anything necessary to shore up the eurozone and temper the economic shock of the pandemic.

It is now clear that sporadic, piecemeal measures to handle the crisis are akin to offering an aspirin and not effective treatment to the deeply ailing economy.

Lagarde’s position reminds us that a wave of populism permeated Greek politics in large measure because it found fertile ground by exploiting the excessive demands of creditors.

In the framework of an evaluation of the bailout programmes that were implemented between 2008 and 2017, the Executive Board of the Fund has in many instances pinpointed important miscalculations and omissions.

Instead of fixing the fiscal roof, the government is preoccupied with handing out benefits, providing arrangements for debt repayment, and offering a write-down on home loans