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If the ECB is to fulfil its mandate of price stability, it must prevent prices falling.
This is not happening because of ECB policies, and the ECB does not have the ability to address the fundamental problem. This is happening because the Euro is flawed. A currency won't stand atop multiple fiscal and domestic policies, simply because what gives a currency its meaning is trust in the policies of its printer. Europe doesn't seem ready to become one big country. As a result, the Euro will either fail, or it will remain some sort of bastard of a currency that helps some members of the Eurozone at the expense of others.