Lagarde says ECB did the right thing choosing jobs over protecting savers

Financial Times/Martin Arnold

graphic image of EU flag and euro coin“’Would we not be in a situation today with much higher unemployment and a far lower growth rate, and isn’t it true that ultimately we have done the right thing to act in favour of jobs and of growth rather than the protection of savers?’ she asked.”

USAGOLD note:  These words from Christine Lagarde the day before she officially became president of the European Central Bank might become one of those statements by which the speaker is defined for a long time to come. It will certainly draw the attention of the increasingly vocal members of the ECB’s board of governors who oppose the central bank’s bond purchases and negative rates.

Repost from 11-4-2019

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