The ECB can't save Europe alone

Low inflation has made it increasingly difficult for the ECB to avert another eurozone crisis. Germany must come to its aid.

The European Central Bank is losing its perennial battle against deflation, with annual inflation easing further in September. But the ECB cannot fix this problem on its own: it needs Germany to rise to the challenge and shift their priorities from battling imaginary inflation towards supporting employment and the broader recovery.


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