Stournaras says euro-area recession concern is real and justified
Updated
Updated · Bloomberg · May 3
Stournaras says euro-area recession concern is real and justified
3 articles · Updated · Bloomberg · May 3
The ECB Governing Council member and Bank of Greece chief linked the risk to Middle East conflict-driven supply disruption and said it was too early for precise estimates.
He said there was no sign yet that higher energy prices were significantly feeding through to inflation across the euro area.
After keeping rates unchanged last week, the ECB is focusing on possible second-round effects, including pressure on wages, prices and inflation expectations.
With stagflation looming, can the ECB tame inflation without triggering a devastating recession across the Eurozone?
As the Hormuz crisis chokes energy supplies, is Europe facing another 1970s-style economic disaster?
Beyond oil prices, could the escalating Middle East conflict spark a catastrophic global food shortage?