Italian Deputy Prime Minister and Foreign Minister Tajani said that increasing the cost of money means pushing companies into a difficult situation, with interest rates too high, Italy will face recession.
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| A 50 euro note is displayed at the European Central Bank in Frankfurt am Main, western Germany. Photo: AFP/TTXVN |
On June 27, Italian Deputy Prime Minister and Foreign Minister Antonio Tajani said that high interest rates put the country at risk of recession, after European Central Bank (ECB) President Christine Lagarde announced in advance another interest rate hike in July.
Ms. Lagarde said that inflation in the Eurozone is too high and could persist for too long.
"I don't think that further increases in interest rates will support growth. In particular, I disagree with premature announcements like Ms Lagarde made today. Inflation in Europe is different from the US, which is due to the rising cost of raw materials caused by the war. Today, increasing the cost of money means putting companies in a difficult situation. With interest rates too high, we risk recession," Tajani said at a meeting of the national federation of independent trade unions in Rome.
On the morning of June 27, at a central bank forum in Sintra, Portugal, Ms. Lagarde announced that "unless there is a significant change in the inflation outlook, we will continue to raise interest rates in July."
( According to https://www.vietnamplus.vn/italy-lo-ve-nguy-co-suy-thoai-neu-ecb-tiep-tuc-tang-lai-suat/871879.vnp )
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