European Central Bank to raise Eurozone interest rates

The European Central Bank’s decision to raise interest rates in the Eurozone is likely to lead to a collapse of the Euro and to a severe economic crisis in Italy, analysts have warned. Some described the European Central Bank ‘s policy decision as “kamikaze” and said it would condemn the Eurozone to a prolonged recession. The standard interest rate has risen from 2 to 2.5 percent, while banks borrowing money from the European Central Bank will now be faced with a charge of 2.75 percent. The European Central Bank governor justified the hikes as necessary in order to bring inflation under control. What is your take on this?