“Stability. Exactly our thing” – the European Central Bank has compressed its brand essence into these four words for its 25th anniversary. The current video of the currency guardians is lively and young. The statement comes across as a bit defiant considering that price stability in the monetary union is not at its best at the moment. The currency guardians could never have completely prevented the surge in inflation. But it was a mistake to wait so long to raise interest rates. This admission is a painful experience for a scholarly institution that lectures politicians to cut government spending and unions to be cautious about wage demands.
25 years ECB – now comes the hardest battle – economy
