Christine Lagarde: “A hotter climate and nature loss are changing our lives. We must understand what this means for the economy to fulfill our mandate. With our climate and nature plan, we are intensifying our efforts to help underpin stability and support the green transition.”. Brrrr is coming …
by sylsau
4 comments
How to translate what the one who is at the head of the ECB has just said?
Out of thin air monetary printing of the euro will soon resume to finance this climate transition…
This will not surprise anyone because all excuses are good to further debase the currency.
On the other hand, what should surprise you is that the president of the ECB talks about the climate transition when her mandate as the head of the ECB is not linked to climate issues.
As a reminder, the ECB’s mandate is to ensure price stability.
So why does the president of the ECB allow herself to go beyond the scope of the ECB’s missions?
Why doesn’t anyone say anything to her when she exceeds her prerogatives?
“Hotter climate”, “nature loss”, “changing our lives”, “intensifying our efforts”, “to help underpin stability”, “support the green transition”.
So many understatements and vague and meaningless words so that the statement does not sound alarming (not big business endangering) and makes non-binding promises. Nothing but wind.
“Wind” like in “farting”.
When we buy gas for our cars or oil for heating our homes, we pay that money to private individuals who use it to lobby for more oil industry dominance.
Would be interesting to replace the money printer with socialized natural resource rents. Oil is a second money printer for rich people. But they don’t need two.
A major problem is, the current inflationary system is a major cause of environmental damage. As long as the system exists, the planet is doomed.