{"id":1410370,"date":"2022-03-30T14:00:13","date_gmt":"2022-03-30T18:00:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1410370"},"modified":"2022-03-30T14:00:16","modified_gmt":"2022-03-30T18:00:16","slug":"inflation-era-ukraine-crisis-poses-significant-dangers-to-eurozone-ecb-head","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-era-ukraine-crisis-poses-significant-dangers-to-eurozone-ecb-head\/","title":{"rendered":"Inflation Era: Ukraine Crisis Poses \u2018Significant\u2019 Dangers to Eurozone &#8211; ECB Head"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" 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<!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">There are difficult months ahead for Eurozone nations, with the head of Europe\u2019s central bank warning that the ongoing Ukraine Crisis poses \u2018significant\u2019 dangers to the currency union.<\/p>\n<p>\u2018Significant\u2019 dangers to do with supply chain issues and the rising costs of food and energy are now facing the Eurozone, the head of the European Central Bank, Christine Lagarde, has warned.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>These impending dangers can all reportedly be traced back to the ongoing war in Ukraine, with Russia\u2019s invasion of the country creating a number of significant economic pressures which appear to be threatening Eurozone nation-states.<\/p>\n<p>According to a <a href=\"https:\/\/www.politico.eu\/article\/significant-economic-risks-rising-due-to-war-ecbs-lagarde\/\">report<\/a> by POLITICO, Lagarde has listed the war itself, along with issues with global supply chains, the high price of food, and rising energy costs as three major factors threatening the bloc.<\/p>\n<p>Food hikes are largely linked back to Ukraine\u2019s <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/26\/un-tsar-warns-europe-of-hell-on-earth-migrant-crisis-amid-global-food-shortage\/\">major role<\/a> internationally in the supply of wheat and fertilisers, while Russia\u2019s prominence in supplying Europe with gas has led to significant instability issues within the continent\u2019s energy sector.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cEurope is entering a difficult phase,\u201d the ECB President said. \u201cThere is considerable uncertainty about how large these effects will be and how long they will last for.\u201d<\/p>\n<p>\u201cAt the same time, the war poses significant risks to growth,\u201d the President also reportedly said while noting that citizens within the block seemed likely to pull back on discretionary spending due to the effects of the conflict.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Supermarket Prices Rise at Fastest Rate in a Decade, as Inflation Grips Britain<a href=\"https:\/\/t.co\/KYCNsO7ww2\">https:\/\/t.co\/KYCNsO7ww2<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1509078020992155649?ref_src=twsrc%5Etfw\">March 30, 2022<\/a><\/p>\n<\/blockquote>\n<p>Lagarde\u2019s warning comes as a number of individual states within the Euro currency block suffer significant increases in inflation.<\/p>\n<p>For example, in Spain, the rate of consumer inflation rose to <a href=\"https:\/\/www.politico.eu\/article\/march-inflation-hits-9-8-percent-in-spain\/\">9.8 per cent<\/a> year-on-year in March, marking the highest level the country has ever seen since the introduction of the Euro.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cThis development is due to generalised increases in most of its components,\u201d Spain\u2019s National Statistics Institute <a href=\"https:\/\/www.ine.es\/en\/daco\/daco42\/daco421\/ipcia0322_en.pdf\">said<\/a>, explaining the extreme rise. \u201cThese included increases in electricity prices, in fuels and oil prices, and in food and non-alcoholic beverages prices, higher this month than in March 2021.\u201d<\/p>\n<p>Ireland is also facing similar seismic rises, with inflation being <a href=\"https:\/\/www.irishtimes.com\/business\/economy\/major-cost-of-living-shock-expected-in-months-with-inflation-forecast-to-hit-8-5-1.4833635\">predicted<\/a> to top off at around 8.5 per cent in the coming months, though there is reportedly a risk that inflation could go beyond even this estimate.<\/p>\n<p>However, even the conservative 8.5 per cent figure will result in significant hardships for Irish families, with real-term incomes likely to fall by 2 per cent, stripping the average household of \u20ac1,300 in spending power.<\/p>\n<p>Germany is another country where experts are warning of serious economic consequences as a result of the various ongoing crises, with inflation now predicted to likely outstrip economic growth in the country.<\/p>\n<p>This, however, is without factoring in the possibility that Russia could imminently cut Germany\u2019s gas supply in its entirety as a result of the nation\u2019s refusal to pay for the fuel in rubles.<\/p>\n<p>\u201cGermany is heavily dependent on Russian energy supplies,\u201d one expert <a href=\"https:\/\/www.welt.de\/wirtschaft\/article237870905\/Inflation-Wirtschaftsweise-rechnen-mit-drastischem-Konjunktureinbruch.html\">told<\/a>\u00a0<em>Die Welt<\/em>. \u201copping these deliveries carries the risk that the German economy will slip into a deeper recession and inflation will increase even more.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are difficult months ahead for Eurozone nations, with the head of Europe\u2019s central bank warning that the ongoing Ukraine Crisis poses \u2018significant\u2019 dangers to the currency union. \u2018Significant\u2019 dangers<\/p>\n","protected":false},"author":297,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1410370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1410370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1410370"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1410370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1410370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1410370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1410370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}