Prospects of European Economy: Defaults, Bankruptcies, and Debt Crisis

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ECB members promised to provide all the necessary support to under-pressure eurozone sovereign bonds. The ECB's main task is to ensure price stability and not to provide favorable financing conditions. But keeping borrowing costs under control for more indebted eurozone members is "core" to the regulator's mandate. Lagarde also warned of the risk of a correction in Europe's financial and housing markets. In the last few weeks, there have been protests in several EU countries over rising food and petrol prices. Another blow to the EU could be Macron's loss in parliament.