Disinfo: ECB has an unspoken policy to keep the Euro weak against other currencies

Summary

Since the European debt crisis in the second half of 2012, the European Central Bank has adopted an unspoken policy of weakening the value of the euro against other currencies.

Disproof

There has been always a clear policy concerning the rates of the Euro. The European Central Bank introduced negative rates in June 2014, lowering its deposit rate to -0.1% to stimulate the economy.

To battle the global financial crisis triggered by the collapse of Lehman Brothers in 2008, many central banks cut interest rates near zero. A decade later, interest rates remain low in most countries due to subdued economic growth. With little room to cut rates further, some major central banks have resorted to unconventional policy measures, including a negative rate policy. The euro area, Switzerland, Denmark, Sweden and Japan have allowed rates to fall to slightly below zero.

The European Central Bank's mandate is to ensure price stability by aiming for an inflation rate of below but close to 2% over the medium term.

In September 2019, the ECB doubled down on its negative rate policy, an attempt to make banks lend more to kickstart the economy.

publication/media

  • Reported in: Issue 193
  • DATE OF PUBLICATION: 08/04/2020
  • Outlet language(s) Arabic
  • Countries and/or Regions discussed in the disinformation: EU
  • Keywords: EU budget, euro, Europe
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Even the coronavirus did not distract Lithuania from the eternal disease called Russophobia

In Lithuania, even the situation with the coronavirus has been tied to Russia. One would think that the current situation in the world – a recession of the economy, an epidemic of the coronavirus, would at least slightly distract these “daredevils” from their eternal disease, called Russophobia. But no.

Disproof

Recurring pro-Kremlin disinformation narrative about Russophobia in Lithuania and the Baltic States. The disinformation message appeared after a statement (see in also in Russian) made by the head of Lithuania's State Security department Darius Jauniskis: "What we are observing is the activity of the Russian special services. These are attempts to disinform society and spread panic, distrust to the Euro-Atlantic space and governments." See similar pro-Kremlin disinformation cases: "Russophobia is the main export of Lithuania", "Free Russia Forum in Vilnius is an anti-Russian gathering", "Lithuania is afflicted by total Russophobia", The only idea that strongly unites Lithuanian society is Russophobia.

Coronavirus gave the Baltic States a new excuse for Russophobia

Even during the pandemic of the coronavirus, the Baltic states are strictly following their anti-Russian agenda. Moreover, the terrible disease gave reasons to strengthen this Russophobia, including public statements that “Russians are infected with coronavirus more often than Latvians”. And even when help from China was brought over with the assistance of Russian aircraft, there was suspicion in the Baltic states.

Disproof

Recurring pro-Kremlin propaganda narrative about ubiquitous Russophobia in the EU and beyond, mixed in with coronavirus-related events. Read more about EU countries' response to the coronavirus here. For background, read our analysis: The “Russophobia” Myth: Appealing to the Lowest Feelingsand see earlier disinformation cases alleging that Brussels uses Russophobia as a uniting idea to prevent the EU’s collapse, that Russophobia is the main activity of the Latvian state and that the Baltic states’ policies are equal to the Third Reich whereas Russophobia has become a Western value.

The New World Order is Kissinger’s solution to defeat Covid-19

Henry Kissinger, the Zionist pioneer of US imperial foreign policy, warned in an op-ed that no government alone, not even the United States, can defeat the Covid-19 alone, which implies that the New World Order that he always preached must continue.

Disproof

Conspiracy theory with an anti-Semitic element, supported by no evidence and based on a false claim. In the mentioned op-ed [published in the Wall Street Journal on April 3, 2020], former US Secretary of State Henry Kissinger didn’t mention any ‘New World Order’ at all, and the article is rather a call to “safeguard the principles of the liberal world order” from the risks posed by the Covid-19 crisis. This is part of Russia’s disinformation campaign on coronavirus, mixed with a recurrent false narrative about a Shadow Government ruling the world and promoting its own agenda, this time called the New World Order. This narrative aims to question the legitimacy of democracy and Western institutions. The Kremlin-led disinformation campaign on coronavirus has been well documented by both media and governments, and some of its elements were widely reported by Russian and international publications and by the European External Action Service. EUvsDisinfo database has a long set of Kremlin-linked disinformation cases on this subject, such as claims that Bill Gates and George Soros are sponsoring the Wuhan coronavirus, that it is a UK, US or NATO creation and Americans have its cure, that it is an artificial disease which specifically targets Chinese DNA, that it is a pretext to gain control of the world’s population, that it was created with economic goals while big pharma companies are spreading panic for their own profits, that it is a biological weapon against Russia and China, that it will wipe out Ukraine’s population in a few days or that it was predicted by Nostradamus and others.