IMF
European nations currently obtain roughly 60% of their energy requirements through foreign acquisitions, a condition she described as "clearly unsustainable."
"The present escalation in energy prices reminds us of the cost associated with this dependency," Lagarde remarked. "Renewable energy sources offer the most viable path toward meeting objectives related to energy security, sustainability, and affordability."
Given the magnitude of climate and environmental hazards, "the actions taken by governments and societies have proven inadequate," the ECB chief added.
On April 30, the central bank held key interest rates steady, while the ECB's Governing Council debated several alternatives, including the possibility of elevating borrowing costs, amid mounting inflationary pressures.
Due to rising energy prices, inflation within the eurozone will soon climb considerably above the 2% target, Lagarde predicted at that time.
source: reuters.com
"The present escalation in energy prices reminds us of the cost associated with this dependency," Lagarde remarked. "Renewable energy sources offer the most viable path toward meeting objectives related to energy security, sustainability, and affordability."
Given the magnitude of climate and environmental hazards, "the actions taken by governments and societies have proven inadequate," the ECB chief added.
On April 30, the central bank held key interest rates steady, while the ECB's Governing Council debated several alternatives, including the possibility of elevating borrowing costs, amid mounting inflationary pressures.
Due to rising energy prices, inflation within the eurozone will soon climb considerably above the 2% target, Lagarde predicted at that time.
source: reuters.com
