Stournaras fears consequences of Trump's election

Governor of the Bank of Greece, member of the Board of Directors of the European Central Bank (ECB) and Rothschild overseer Yiannis Stournaras has expressed a worrying assessment that the election of Trump in the United States will have negative consequences for both the American and European economies.

Of course, no one yet understands the purpose of such statements being made to the new US President at a time when he has not yet announced his official steps regarding the American economy, but many took this as a warning from the Rothschild family.

Answering a question during a conference on public debt held today at the Bank of Greece, its head refrained from answering until the new US president announced his policy statements.

However, according to him, from “an academic point of view and based on D. Trump’s election statements, certain conclusions can be drawn.” According to him, “During the elections, D. Trump developed a certain rhetoric. So, assuming he implements some of his announcements on immigration and tariff increases, then, at least temporarily, the US will see higher inflation and higher national debt. Consequently, the Federal Reserve will be forced to respond.

Regarding the consequences for the European economy, Stournaras argues“that they will be negative and the euro exchange rate will also suffer. In the short term, growth rates may weaken, which will also affect the ECB's monetary policy.”

However, he assured that the ECB's monetary policy will not be changed, at least until the next meeting of the governing council in December. In any case, he repeated, in order to draw final conclusions, we first need to see the specific policy statements of the new president.

“We will not change our monetary policy, at least until the new president voices specific policy statements. Inflation is moderate and moving better than the last forecast in September. At the same time, the economy appears to have weakened further, according to the latest Eurostat data. In any case, decisions on monetary policy depend on the data we receive at the next meeting in December“, he said.

Meanwhile, the indices of American enterprises rose sharply. For example, the Dow Jones Industrial Average rose 3.44%. On the contrary, the euro fell sharply.

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