The ECB confirms that the entire euro zone, including Spain, faces the possibility of a technical recession

Oct. 28 () –

The Head of Risks of the European Central Bank (ECB), Fernando Monar, has pointed out that the prospects of a possible technical recession apply to the entire euro zone, including Spain, although this could be of greater or lesser magnitude and extension in the weather.

This is how the ECB expert responded to the question of whether Spain is going to be saved from the technical recession in the coming quarters or is simply going to register episodes of very small GDP growth.

“I believe that the prospects of a possible technical recession apply to all the countries of the euro zone. It may be temporary, it may be greater or lesser and it is in a certain way inevitable,” he has sentenced in statements to RTVE collected by Europa Press.

Regarding whether the interest rate hikes by the monetary institution will help control inflation, Monar has recognized that there are still upward risks for inflation, so, in his opinion, it is still necessary to continue with these policies. .

Faced with criticism for the new contractionary monetary policies, Monar made it clear that the ECB has a “very clear” price stability mandate and recalled that inflation “is a problem for everyone.” For this reason, Monar has stressed that it is a problem that has to be combated, although he has recalled that they are not the only agents involved in adopting measures.