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German tabloid attacks ECB chief Lagarde as ‘Madam Inflation’
Published by maria gbaf
Posted on November 1, 2021
2 min readLast updated: January 29, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on November 1, 2021
2 min readLast updated: January 29, 2026
Bild criticizes ECB's Lagarde for inflation, reflecting German public's skepticism towards ECB policies amid rising inflation concerns.
FRANKFURT (Reuters) – Germany’s best-selling tabloid Bild scathingly criticised European Central Bank (ECB-POLICY-KAZIMIR-00b06d9b-4b99-46ce-a2aa-458d8eb2d993>ECB) President Christine Lagarde on Saturday, accusing her of destroying the earnings and savings of ordinary people by tolerating a rise in inflation.
The article, echoing a Bild attack on Lagarde’s predecessor Mario Draghi in 2019, may signal fresh hostility towards the ECB-POLICY-KAZIMIR-00b06d9b-4b99-46ce-a2aa-458d8eb2d993>ECB on the part of the German public, which has for a decade been sceptical of the bank’s ultra-easy policy.
Two days ago the bank left rates policy unchanged despite consumer price growth hitting a 13-year high.
The newspaper called Lagarde “Madam Inflation,”, accusing her of being a high-earner who liked wearing luxury fashion and saying she didn’t seem to care about ordinary people’s difficulties. “Christine Lagarde is melting pensions, wages and savings,” it said.
Asked about the article by Reuters, an ECB-POLICY-KAZIMIR-00b06d9b-4b99-46ce-a2aa-458d8eb2d993>ECB spokesperson noted that in her Thursday news conference Lagarde had acknowledged inflation is “clearly of concern” to citizens, and said policymakers did a “lot of soul-searching” before holding off on tightening policy.
Bild’s attack comes a week after German central bank chief Jens Weidmann, an outspoken critic of ECB-POLICY-KAZIMIR-00b06d9b-4b99-46ce-a2aa-458d8eb2d993>ECB policy, quit his job, arguing that 10 years in the role is enough while also warning over inflation risks.
Inflation in the euro zone hit 4.1% this month, equalling its all-time-high, while German inflation is even higher, likely approaching 5% by year end.
($1 = 0.8650 euros)
(Reporting by Balazs Koranyi; Editing by David Holmes and Frances Kerry)
The article discusses German tabloid Bild's criticism of ECB President Christine Lagarde over rising inflation concerns.
The ECB is criticized for not tightening policy despite rising inflation, affecting earnings and savings.
Inflation in the euro zone hit 4.1%, equalling its all-time high.
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