Comment by pjc50
11 hours ago
The Euro had a much better set of inflation controls than most of the previous European currencies. Especially the lire.
11 hours ago
The Euro had a much better set of inflation controls than most of the previous European currencies. Especially the lire.
Absolutely. But when you inflate your own currency, it is you who have to deal with the consequences. If you inflate everyone's currency you reap all the benefits and leave everybody else with the burden of the consequences.
But part of the setup was that inflation was controlled centrally by the ECB? How are you declaring that national governments inflated it?