{"id":137150,"date":"2026-07-02T12:59:35","date_gmt":"2026-07-02T12:59:35","guid":{"rendered":"https:\/\/www.europesays.com\/people\/137150\/"},"modified":"2026-07-02T12:59:35","modified_gmt":"2026-07-02T12:59:35","slug":"ecb-chief-says-eurozone-more-resilient-to-shocks-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/people\/137150\/","title":{"rendered":"ECB chief says eurozone more ‘resilient’ to shocks"},"content":{"rendered":"

LISBON
\n\"ECB<\/p>\n

The eurozone will face more frequent geopolitical shocks but growing “resilience” means it is better placed to cope, European Central Bank President Christine Lagarde<\/a> has said.<\/p>\n

From the COVID pandemic to wars in Ukraine and Iran, the ECB<\/a> has had to repeatedly respond to global upheaval in recent years that has threatened its goal of keeping inflation stable.<\/p>\n

Lagarde told the opening of an annual gathering of top central bankers in Portugal that “we face a charged geopolitical environment in which the frequency of major shocks looks to be rising.<\/p>\n

“And these shocks are also taking on new forms: market access, energy supplies and critical minerals are increasingly being weaponized.”<\/p>\n

But she insisted there were signs of growing strength in the 21-nation euro area that made it better able to weather such episodes.<\/p>\n

“The resilience Europe has built means their effects on our economy are more contained,” she said, referring to the repeated shocks.<\/p>\n

This was due to factors including the ECB’s own expanding toolbox, which made it nimbler, improvements in European institutions and better oversight of banks, Lagarde said.<\/p>\n

This meant the eurozone had weathered recent upheaval, from the US tariff blitz to the Iran war energy shock, relatively well, she said.<\/p>\n

She also defended the ECB’s decision to hike interest rates this month for the first time since 2023, in response to the Middle East war.<\/p>\n

Some economists had criticised the move as unnecessary, and warned it could weigh on the struggling eurozone.<\/p>\n

“Our rate increase was justified under every scenario considered,” she said.<\/p>\n

“It was, by design, a robust decision. And nothing we have observed since then has called this assessment into question.”<\/p>\n

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