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Devaluation, Inflation Ten years after euro bank notes replaced national currencies on Jan. 1, 2002, the euro has for the first time recorded two consecutive annual losses against the U.S. dollar while plunging to a record low against the yen. A weaker euro and faster inflation may help the region’s economy to revive growth amid 1.1 trillion euros in euro-area debt sales this year, Valensise said. “De-facto, the ECB is already printing, via the long-term loans to euro-zone banks and lowering collateral requirements,” he said. “Those who fight inflation -- the Germans -- are fighting yesterday’s battle: we desperately need some.” Monti’s government forecasts the economy (ITPIRLQS) will shrink 0.5 percent next year. Monti said last week his new “Grow Italy” plan will also seek to boost infrastructure spending through a better use of European Union funds. Measures to overhaul the labor market will be unveiled in February.
Tags : euro, said, inflation, year, ”
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