You have experienced all the major crises: the financial crisis of 2008 when you were the French Minister of the Economy, the Greek crisis and sovereign debt crisis in Europe when you were head of the International Monetary Fund, then later, as President of the ECB, the COVID-19 pandemic, the war in Ukraine and now the conflict in the Middle East. Has it become the normal state of affairs for the world to be in a crisis situation? There have always been economic and financial crises. What is new is how they are linked together. The pandemic gave rise to pressures on energy and raw materials, then came the invasion of Ukraine which worsened the energy crisis and the inflation surge.
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