ECB Head Warns Europe’s Economic Outlook is ‘Darkening’ Amid Soaring Energy, Food Prices

The chief of the European Central Bank (ECB) has warned that the economic outlook for the continent “is darkening” and that business activity could “slow substantially” in the coming months amid skyrocketing food and energy prices in the wake of the Ukraine war.

Christine Lagarde, speaking at the European Parliament on whether the eurozone would sink into recession, admitted that Russia’s military operation in Ukraine, now into its eighth month, “continues to cast a shadow over Europe.”