The ECB under pressure in the face of the crisis in Europe

Christine Lagarde is expected as the Messiah in the face of a feverish economy.

However, the president of the European Central Bank (ECB) will have no miracle cure to administer to a convalescent Europe at risk of relapse.

The central bank, whose monetary policy council meets this Thursday, is not expected to release new ammunition, after a historic bazooka of 1.350 billion euros in bond buybacks drawn in the spring in response to the explosion of the pandemic of Covid-19.

It still has some aside: it has invested at this stage a little more than 500 billion of this envelope.

Likewise, it is unlikely that it will decide to further lower its main interest rate, which is already negative at -0.5%.

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It is therefore through the magisterium of speech that Christine Lagarde will have to try to reassure.

She should promise that the institution will continue to do everything possible to support the economy and hint that further monetary policy measures may be

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