Published on 06/25/2023 17:05
– Updated 06/25/2023 17:10
Christine Lagarde beats the money, and we apologize for the brutal synopsis, but that’s what happens: well, yes 100 billion dollars should be allocated by statesEuropean Unionsaid the President of the BCE. The debate of the last months has mainly focused on the “green trend” between the directive and the EU undertaken by the Community institutions in the name of “climate change”.energy efficiency and the absurd suggestion of requisitioning of agricultural land maintaining biodiversity. Just as crazy to us, in an economic situation that is not the happiest, is Lagarde’s demand: “We need a coordinated approach that above all sees everyone’s commitment.” governments they have to be hired in the foreground and they must honor the financial assistance commitments they have made with developing countries,” said the President of the ECB in her speech at the summit for a New Global Financial Pact in Paris.
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The commitments made (14 years ago)
In fact, promises were made 14 years ago. Commitments that have indeed been made COP15 in Copenhagen In the 2009 for up to $100 billion. Lagarde recalled how beyond the 90% of deaths from extreme weather events over the past half century have occurred in developing countries where the 70% of disasters. Christine Lagarde then added that governments should also “mobilize”. private funding“. “The path ahead is clear, we must continue on this path crossing This secures our economies in the face of future challenges,” Lagarde noted, pointing out that according to ECB research, “only in Europe can 70% our economy is highly dependent onnatural ecosystem“. The priority is therefore on climate change, apart from the serious one economic situation of the EU countries, in which the European Central Bank does not seem to have any interest.
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The collapse of the manufacturing sector
In fact, many measures appear absolutely unfair, such as the continuous one rate hike Interesting: The European reference interest rate was only approved thirteen months ago zero for the four Percent. The interest rate on the main refinancing was raised to 4%, on deposits to 3.50% and on top loans to 4.25%, we read in the newspaper Free. A clear financial bottleneck counterproductive. Let’s take the example of manufacturing sector, that was an all-Italian excellence where we were at the top in Europe. Today, however, the index data Hcob Pmi Flash Composite – or in terms of manufacturing and services – they tell us that it goes down to 50.3 from 52.8 in May, ie the minimum value in five months. Below 50 points indicates the index contraction of the market. It’s not just an Italian problem, Germany is even worse off. The former “Locomotive of Europe” is the manufacturing index precipitate up to 41 net points, versus 43.5 expected by analysts.
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