François Villeroy de Galhau, the governor of Banque de France, indirectly advocates for maintaining the current interest rates, suggesting stability in policy over frequent rate hikes (FAZ).

France is the dominant force in the ECB, actually they are running the monetary policy since the start of this Fiat experiment.

Clearly the Eurozone, the states and commercial banks, are suffering from the liquidity drain. And the ECB needs to decide: do we defend the EURO or do we defend yields and government debt? The danger awaits them in the FED's and BoE's policy...