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Europe’s Winter Gas Crisis and the Need for a Higher Inflation Target

Confidence in Reaching Inflation Targets and Gas Reserves Situation in Europe

Introduction: In a recent interview, European Central Bank President Christine Lagarde expressed her confidence in the ECB’s ability to meet its inflation target of 2%. She also discussed the positive outlook for Europe’s gas reserves situation. Let’s delve into the details.

Meeting the Inflation Target

Christine Lagarde, the President of the European Central Bank (ECB), assured the public that the ECB is on track to achieve its goal of bringing inflation down to 2%. In an interview published in French paper La Tribune Dimanche, Lagarde emphasized the importance of the ECB’s key interest rates, which were raised to a record high of 4% last month.

Positive Economic Outlook

Lagarde highlighted several reasons why she remains optimistic about the short-term economic outlook. Firstly, she pointed out that inflation is currently experiencing a significant decline. Moreover, she mentioned ongoing economic reforms taking place in Europe as another contributing factor. Additionally, Lagarde emphasized that Europe’s gas reserves situation is better than ever before.

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Replenishing Gas Reserves

Lagarde expressed her satisfaction with the progress made in replenishing gas reserves in Europe. She remarked, “Just one year ago, who would have thought that we would succeed in replenishing more than 90% of our gas reserves by September 2023?” This achievement instills confidence as Europe approaches the upcoming winter season.

Increased Confidence

With the significant progress made in implementing structural reforms and the improved gas reserves situation, Lagarde believes Europe can face the coming winter season with more confidence than ever before. While acknowledging that challenges may still arise, Lagarde’s positive outlook reflects the determination to overcome any obstacles.


Christine Lagarde’s interview sheds light on the ECB’s commitment to achieving its inflation target of 2%. Furthermore, her optimism regarding Europe’s gas reserves situation provides reassurance amid potential energy concerns. With ongoing economic reforms and improved gas reserves, Europe can approach the future with increased confidence.

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