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Ukraine Russia WarEvents around the on-going conflict in Ukraine
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Events around the on-going conflict in Ukraine
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Location
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EU central bank warns âoutlook is darkeningâ
The ECB has slashed growth forecasts, hiking interest rates even as it predicts inflation will climb further
Europe is facing lower-than-expected economic growth as inflation continues to climb, European Central Bank chief Christine Lagarde revealed on Monday, explaining that the ECB had raised interest rates by 75 basis points in an attempt to control soaring prices.
Speaking before the European Parliamentâs Committee on Economic and Monetary Affairs on Monday, Lagarde admitted that âinflation remains far too high and is likely to stay above our target for an extended period.â
The former IMF boss warned that the âeconomic consequences for the euro areaâ of âRussiaâs unjustified war of aggression on Ukraineâ had spiraled further since June, a reference to Western sanctions on Russian oil and gas, which have sent fuel prices skyrocketing.
âThe outlook is darkening,â she said.
While the Eurozone economy grew 0.8% in the second quarter, Lagarde said the ECB expected activity to âslow substantiallyâ over the rest of 2022, to a total of 3.1% over the year and a mere 0.9% for all of 2023. Things will improve marginally in 2024, with growth projected at 1.9%, she said.
Much of this quarterâs economic growth was due to âstrong consumer spendingâ driven by the reopening of Covid-shuttered industries like tourism, Lagarde said, while noting a decline in global demand due to what she called the âworsening terms of trade.â
The ECB has slashed growth forecasts, hiking interest rates even as it predicts inflation will climb further
Europe is facing lower-than-expected economic growth as inflation continues to climb, European Central Bank chief Christine Lagarde revealed on Monday, explaining that the ECB had raised interest rates by 75 basis points in an attempt to control soaring prices.
Speaking before the European Parliamentâs Committee on Economic and Monetary Affairs on Monday, Lagarde admitted that âinflation remains far too high and is likely to stay above our target for an extended period.â
The former IMF boss warned that the âeconomic consequences for the euro areaâ of âRussiaâs unjustified war of aggression on Ukraineâ had spiraled further since June, a reference to Western sanctions on Russian oil and gas, which have sent fuel prices skyrocketing.
âThe outlook is darkening,â she said.
While the Eurozone economy grew 0.8% in the second quarter, Lagarde said the ECB expected activity to âslow substantiallyâ over the rest of 2022, to a total of 3.1% over the year and a mere 0.9% for all of 2023. Things will improve marginally in 2024, with growth projected at 1.9%, she said.
Much of this quarterâs economic growth was due to âstrong consumer spendingâ driven by the reopening of Covid-shuttered industries like tourism, Lagarde said, while noting a decline in global demand due to what she called the âworsening terms of trade.â
Macgregor: Ukraine Is On The Ropes And Trying To Create The Illusion That Is Not The Case
https://www.realclearpolitics.com/video/2022/09/22/macgregor_ukraine_is_on_the_ropes_and_trying_to_create_the_illusion_that_is_not_the_case.html?utm_medium=referral&utm_source=mixi&utm_campaign=realclearpolitics
RET. COL. DOUG MACGREGOR: Almost from the very first moment that the Russians moved into Eastern Ukraine, a succession of retired generals and political hacks in Washington and London and elsewhere have been declaring victory for Ukraine. Seven months later, the Ukrainian army is bled white, tens of thousands of Ukrainian troops have been killed or wounded. Ukraine is really on the ropes and trying to create the illusion that's not the case.
At the same time, Vladimir Putin has finally concluded that he can't negotiate with Kyiv, that the real problem, of course, is Washington, and that Washington will not negotiate with him. So he's opted for partial mobilization, bringing in additional forces, ostensibly for the purpose of ending this thing. And at the same time he's very aware, as any of us are who are in the defense community in Washington, that there's been a lot of loose talk for several months about the viability of waging a limited nuclear war against Russia, using the so-called tactical nuclear weapon.
This sort of thing is very frightening to the Russians. They've made it very clear that their use of nuclear weapons is limited to retaliatory strikes in the event that we, or someone else, strikes them. So they just wanted to reaffirm clearly that they will respond if we use a nuclear weapon.
https://www.realclearpolitics.com/video/2022/09/22/macgregor_ukraine_is_on_the_ropes_and_trying_to_create_the_illusion_that_is_not_the_case.html?utm_medium=referral&utm_source=mixi&utm_campaign=realclearpolitics
RET. COL. DOUG MACGREGOR: Almost from the very first moment that the Russians moved into Eastern Ukraine, a succession of retired generals and political hacks in Washington and London and elsewhere have been declaring victory for Ukraine. Seven months later, the Ukrainian army is bled white, tens of thousands of Ukrainian troops have been killed or wounded. Ukraine is really on the ropes and trying to create the illusion that's not the case.
At the same time, Vladimir Putin has finally concluded that he can't negotiate with Kyiv, that the real problem, of course, is Washington, and that Washington will not negotiate with him. So he's opted for partial mobilization, bringing in additional forces, ostensibly for the purpose of ending this thing. And at the same time he's very aware, as any of us are who are in the defense community in Washington, that there's been a lot of loose talk for several months about the viability of waging a limited nuclear war against Russia, using the so-called tactical nuclear weapon.
This sort of thing is very frightening to the Russians. They've made it very clear that their use of nuclear weapons is limited to retaliatory strikes in the event that we, or someone else, strikes them. So they just wanted to reaffirm clearly that they will respond if we use a nuclear weapon.
Pink Floyd co-founder Roger Waters has penned a blunt open letter to Russian President Vladimir Putin. Seeking guarantees that Russia will not expand beyond Donbass and Crimea and will never âinvade anyone ever again.â Posted to Facebook on Monday, the missive follows similarly frank open letters to Ukrainian First Lady Elena Zelenskaya. In the letter, Waters asks Putin to affirm he wants an end to the war â something the Russian president has already said on other occasions. He also demands a guarantee that Russiaâs âterritorial interestâ stops at the âsecurity of the Russian speaking populationsâ of Crimea and the Donbass republics of Donetsk and Lugansk, citing the need to reassure âsome people who think you want to overrun the whole of Europe, starting with Poland and the rest of the Baltic states.â If Russia does have territorial ambitions beyond eastern Ukraine, Waters writes, âf*** you, and we might as well all stop playing the desperately dangerous game of nuclear chicken that the hawks on both sides of the Atlantic feel so comfortable with, and have at it.â Pink Floyd co-founder calls out âcensorshipâ over Ukraine READ MORE: Pink Floyd co-founder calls out âcensorshipâ over Ukraine It wasnât immediately clear if the referendums in the Kherson and Zaporozhye regions on joining Russia qualified for this response. Moscow would also have to promise ânot to invade anyone ever again,â Waters told Putin, complaining the launch of Russiaâs special military operation in February was not just a âheinous war of aggression,â but... (More)
