With euro inflation at its highest level, the ECB sends a poem on social media

While the euro is at its highest inflation rate in history, at 8.5% per annum, the European Central Bank (ECB) decided to play around with the situation, but ended up irritating the citizens of the eurozone.

Since Valentine’s Day takes place this Tuesday (14) in Europe and other countries, the ECB decided to send a poem on social networks, but touched on a delicate subject, inflation.

“Roses are red
pansies are blue
We stay on track
And put inflation back to 2”

roses are red
pansies are blue
We stay on track
And bring inflation back to 2#Valentine’s Day ❤️🥰 pic.twitter.com/seWC9tfDFg

— European Central Bank (@ecb) February 14, 2023

Besides the fact that the euro fell below 1 dollar at the end of last year, the inflation of the euro is still rising. According to data, this is the period when the European Union’s common currency has lost the most in recent decades.

Citizens angry at the ECB joke as their currency devalues

While several people labeled the poem as “cringe”, i.e. embarrassing, others took it harder and criticized the ECB’s stance at such a critical time for the economy.

“Is this all a joke to you?” asked a Bitcoin investor. “Do you care about the families and family businesses affected by your irresponsible policies?”

In addition to various clown emojis claiming that we are ruled by clowns, some comments wondered how long it would take the ECB to bring euro inflation back to 2% per annum. The most vaccinated, so to speak, recommended Bitcoin as an exit.

“Buy bitcoin BEFORE you need it”wrote one.

“Buy bitcoin and bankrupt them”wrote another.

“When a Ponzi scheme is about to collapse, messages like this always come from the marketing department”added an Italian who was affected by the devaluation of the euro.

When a ponzi scheme is per fallire I always miss messages about the reparto marketing👍https://t.co/fYKLO2CRes

—David. 🗝️🦉 (@davide_bkct) February 14, 2023

US inflation also does not give a truce and Bitcoin is rising

Like the euro, the dollar also suffers from inflation. According to data released this Tuesday (14) by the US government, monthly inflation reached 0.5% in January, a total of 6.4% over the past twelve months. That is, something far from the Fed’s annual target of 2%.

Bitcoin actually pulled back 1%, as well as other investments, with the news. However, it rose in the ensuing hours and traded back above $22,000 after a 2.5% gain.

Although the central banks use interest rate hikes as a weapon against inflation, this does not seem to have direct results. In the medium term, we could witness a recession or more inflation.