This Doesn't Sound Good: Cost Of living In Europe Smashes All-Time High

[G.L.R.]

 

Cost of living in Europe smashes all-time high

Feb, 2022



Inflation across the Eurozone surged to 5.1% in January from 5% in the previous month

The latest growth reportedly reflects the hottest rate of inflation across the 19 countries that have shared the euro since the records began. Meanwhile, the single currency jumped by 0.3% to $1.13050, touching a one-week high to the US dollar, on the expectation that the ECB would signal a faster path for policy tightening as early as Thursday. The ECB's Governing Council is scheduled to gather this week, with an announcement due on Thursday afternoon. The soaring cost of living in Europe is putting pressure on the regulator to tighten money printing.

The "rescue" of Greece by the EU meant that 77% of the money went to financial institutions

The ECB is expected to decide whether to keep implementing extremely loose monetary policy or keep running against signals from the US Federal Reserve and the Bank of England that they are planning to launch a rapid rate hike cycle this year to tame the inflation growth... however, markets are pricing in around two hikes from the regulator this year. EU forced to admit that price hikes are not as temporary and benign as previously said...

Cost of living in Europe smashes all-time high — RT Business News
https://www.rt.com/business/548086-eurozone-inflation-record-high

Greek Bail-Out: 77% went into the Financial Sector | The international Attac network
https://www.attac.org/en/stories/greek-bail-out-77-went-financial-sector

[Ryan-NZ]

Try living in NZ , people pay 600 Bux a week to live in a garage .