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What's absolutely appaling is the description by Krugman that a slight increase in German and French inflation up to 3-4% range would suffice to avoid having a deflation in Greece and other peripheral countries, while still allowing for relative deflation w/ respect to core countries.

A lot of suffering in Greece is coming from the 2%inflation rule of the ECB.

by Xavier in Paris on Fri Oct 21st, 2011 at 03:06:32 AM EST

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