Lagarde Urges Financial Actions on Energy Shock
The statements made by the President of the European Central Bank, Christine Lagarde, focused on the importance of sustainable public finances to maintain economic stability. She emphasized the need to adopt sound fiscal policies, especially in light of high levels of debt, with a focus on reducing unnecessary spending and improving financial resource management to temporarily and flexibly respond to energy shocks. She also noted that more than 30 central banks are interested in euro facilities to support a smooth transition of monetary policies and to strengthen the euro's international role, while warning of the negative risks facing the European economy, particularly high inflation and energy shocks.
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