Christine Lagarde

The crisis with surging prices of energy sources is worse and will take longer to be resolved compared to the Covid-19 pandemic slowdown and the supply bottlenecks for major industries, European Central Bank President Christine Lagarde said in an interview for CNBC.

The European Central Bank published its new Economic Bulletin on Thursday, confirming that the coronavirus-related extension of restriction measures across the bloc is disrupting economic activity.

Mario Draghi, the man largely credited with saving the euro currency, took the helm as Italy's premier on Feb. 13 after assembling a government of economic experts and other technocrats along with career politicians from across the spectrum to guide the pandemic-devastated nation toward recovery.

European Central Bank President Christine Lagarde pushed back on Wednesday against economic pessimism, arguing that a rebound will come as pandemic uncertainty declines and that Europe possesses all the tools needed to overcome the crisis.

The European Central Bank is expected to unleash a half-trillion euros ($600 billion) or more in stimulus on Thursday to support businesses, workers and governments through the winter wave of the coronavirus.

It is expected that the pandemic emergency buying program of the European Central Bank will be expanded by another € 500 billion. This should happen at the last for the year sitting of the Managing Board of the ECB.

The eurozone economy is likely to shrink between 8% and 12% this year as it struggles to overcome the impact of the coronavirus pandemic, European Central Bank President Christine Lagarde said on Wednesday.

While all of Europe is taking a socio-economic beating the German Federal Court of Justice opined that the bond-buying programme of the European Central Bank that emerged after the last debt crisis is in part unconstitutional and touches on the principles of the German (Federal) Constitution.

The current crisis is threatening to tear apart the European construct and project.

The European Central Bank pushed back on Thursday at a German court's attempt to curb its power to buy government bonds, saying it was "more determined than ever" to pull the eurozone out of its worst economic crisis in nearly a century.

The head of the European Central Bank Christine Lagarde warned European Union leaders on Thursday about the risk of doing too little and too late to shield the economy from the effects of the coronavirus pandemic, an official said.