Euro-zone inflation the gap between the highest and lowest rates among the currency bloc’s 19 members jumped to its widest ever

Euro-zone inflation the gap between the highest and lowest rates among the currency bloc’s 19 members jumped to its widest ever

The scale ranges from Malta -- where consumer prices advanced 5.6% last month, to Estonia -- where inflation hit 20.1%. That’s a difference of more than 14 percentage points, more than at any time since the dawn of the euro in 1999.

Bloomberg 2 June 2022

https://www.bloomberg.com/news/articles/2022-06-02/euro-zone-inflation-is-diverging-by-an-unprecedented-amount

Som vanligt bekymmer med Portugal, Spanien och Grekland

Stefan de Vylder den förste i världen som kommit på ett avgörande, inbyggt och ofrånkomligt fel med valutaunioner typ EMU

Om det skrev han i en lysande artikel i Göteborgs-Posten 2002-10-22.

Han hade nämligen kommit på följande enkla (i efterhand) sak:

"Det faktum att den nominella räntan är gemensam i en valutaunion innebär automatiskt att realräntan blir lägst i de länder som har den högsta inflationen, det vill säga de som skulle behöva en hög ränta, och högst i de länder som skulle behöva stimulera ekonomin."

https://englundmacro.blogspot.com/2008/10/skall-urban-bckstrm-och-svenskt.html

German inflation at highest level in nearly half a century

CNBC 30 May 2022

https://www.cnbc.com/2022/05/30/german-inflation-at-highest-level-in-nearly-half-a-century.html

Different needs that cannot be met by a one-size-fits-all policy.

When the Federal Reserve finally hints at monetary tightening it will be turbulent but not life-threatening. When the ECB starts to hint at anything similar, the viability of monetary union instantly comes into doubt. 

https://englundmacro.blogspot.com/2021/05/germanys-inflation-rate-is-now.html

Comment by Rolf Englund:

Much better to have a Euro-collapse now than a Politicial Union,

that will only delay, not prevent, the inevitable collapse of the Euro.

One Size does not fit all

http://www.nejtillemu.com/beginningend.htm