European experts suggest reflect on the euro area architecture
June 06, 2022 09:46 Source: "China Social Sciences" June 6, 2022 Total Issue 2420 Author:

This newspaper comprehensive foreign media reported that the official website of the Institute of International Economic Research Institute of Belgium published an article written by Maria Demertzis, deputy director of the research institute.,The European Central Bank released forecast information in early March,It is expected that the inflation rate in the euro zone in 2022 is 5.1%,The economic growth rate is expected to be 3.7%。But the European Commission released the latest prediction results on May 16,The expected inflation rate of the euro zone in 2022 to 6.1%,The economic growth bet365 Play online games rate is reduced to 2.7%。Make such a large adjustment in a short time,Explain that the economy of the euro zone faces more severe challenges。Expert proposed,To control inflation,Maintain financial stability,EU and its member states need to rethink the architecture of the euro zone。

Demerizes thinks,The following three issues will make it difficult for the European Central Bank to control inflation and keep financial stability。The first question is,Euro area has economic stagnation (that is, rising prices,Economic stagnation) Risk,Each member states may fall into the inflation rate for some time in the future,But the situation of weak economic growth。This makes the policy maker fall into a dilemma,If the European Central Bank takes measures to inhibit inflation,The Bet365 app download economic growth of the euro zone will further deteriorate。At the same time,Relevant forecast display,In 2022,The lowest economic growth rate will also be higher than 1%,So,The euro area will only have slight stagnation,The situation is better than the early 1980s。At that time,France and Spain and other countries face more than 10%of the inflation rate,The inflation rate in Italy even exceeds 20%,The economy of some countries also has negative growth。

The second question is related to the dispersing inflation。Since the establishment of the European Economic and Monetary Alliance,After three rapid growth rates, the rapid growth rate of inflation,It happened at the beginning of the establishment of the European Economic and Monkey Alliance (lasting for nearly 1 Bet365 lotto review year)、During the European debt crisis (nearly 3 years) and now。But in these three high inflation rates,Bad the consumer price index inflation and the increase in core inflation are inconsistent。During the European debt crisis,This kind of inconsistency is mainly caused by the macroeconomic imbalance,The current inconsistency is mainly caused by the differences in the energy structure and the strength of production intensity。But whether it is the European debt crisis or the current,This inconsistency reflects the economic structural differences of member states of the euro zone,It indicates that the euro area needs to improve the ability to respond to continuous impact。

The third question is the different situations of all member states of the euro area。Past,As long as the expansion bet365 Play online games monetary policy is adopted,can maintain price and financial stability at the same time。Now the European Central Bank is about to enter the tightening phase of the monetary policy cycle,It is difficult to take into account both price stability and financial stability,There are also large differences in price and national debt prices in various member states。If the European Central Bank increases interest rates to inhibit inflation,The gap between member states of the euro zone will be further widened,Different from the production and service costs of various countries,Then affect financial stability。

(Yao Xiaodan/Compilation)

Editor in charge: Cui Cen
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