ECB President Christine Lagarde . Archival photoMOSCOW, 27 May. The countries The European Union needs to flex its muscles more often and show collective strength, and not focus solely on its own interests, said the head of the European Central Bank, Christine Lagarde, speaking at the economic forum in Davos.
«Europe needs to make more use of the 'amazing collective power' it has and flex its muscles,» the head of the ECB said. The French explained why Europe would not benefit from anti-Russian sanctions. She also scolded some countries that pursue their own interests instead of the overall goals of the organization.
«Europe is an incredible force. But from time to time we play against our own team, thereby slowing down the movement,» the official stressed.
After the start of a special operation to demilitarize and denazify Ukraine, the West announced new sanctions against Russia, primarily affecting the banking sector and foreign exchange reserves. In Europe, calls began to sound louder to reduce dependence on Russian energy resources. Many brands have announced they are pulling out of the country. However, disruption to supply chains has already turned into economic problems for the US and Europe, causing fuel and food prices to rise. » /> The West miscalculated with sanctions against Russia, writes The Spectator