As inflation soars to its highest level in three decades in Germany, Simon and Lena Wendland, parents of newborn twins, say that their lives have become more uncertain.
Their power supplier has just announced it is doubling its electricity prices, while property prices are looking "rather scary".From energy and food, to paper and rent, prices have been marching mercilessly higher both in Germany and across Europe.
The Frankfurt-based ECB has argued that its record-low interest rates and 1.85-trillion-euro pandemic emergency bond-buying programme are necessary to prop up an economy ravaged by the coronavirus crisis. Bild had nicknamed Lagarde's predecessor Mario Draghi "Draghila", comparing him to a vampire "sucking our accounts to the last drop".
Christian Sewing, his counterpart at Deutsche Bank, has similarly urged central banks to "find a way to exit their very accomodative monetary policy," and the "sooner the better".Germany's central bank chief Jens Weidmann recently dropped a bombshell by announcing his resignation from the powerful Bundesbank at the end of this year.
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