Euro Zone Must Defeat Deflation Ogre

Is the euro zone really “turning Japanese?”
Europe’s low inflation rate has become the new focal point for those who believe the euro zone is doomed to disaster.
Inflation in the zone fell to just 0.8% in December, well below the European Central Bank target of “close to but below 2%.” In Greece, inflation is already negative, while in Spain, Portugal and Ireland it ranges between 0.2% and 0.3%. That is…

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