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Talking about nearly getting out of the crisis in 2011:

A few days ago Jürgen Stark was writing in the FAZ that 0.7% inflation is totally ok. The ECB should not act 'mechanically' to reach its 2% target.

You know who acted mechanically to raise rate when in early 2011 the Inlfation rate was pushed a tiny bit above 2% by tax hikes  in the crisis countries? Jürgen Stark, head of the Bundesbank at that time.

by rz on Thu Jun 5th, 2014 at 03:42:11 AM EST
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