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Lagarde: Financial Markets Situation Not Comparable To 2 Years Ago

Q: How far is the GC worried about financial stability in the euro area? What can you do for financial stability? Can we expect the ECB to accelerate the process for the digital euro?
  • A: Volatility, tensions and stress have occurred in financial markets due to the war. This situation is not comparable to the situation two years ago [she is referring to the beginning of the pandemic]. Liquidity has not disappeared from markets. We are closely monitoring different financial markets.
  • Russia is important in terms of commodity prices but in terms of financial exposure to the euro area, it is relatively limited.
  • I am pleased that attention is focused on the role that crypto currencies play. We have a schedule. The GC decided in October 2021 to launch a two year investigation phase and it is at the end of that stage that the decision to launch the CBDC will be made.

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