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The euro zone’s next big crisis: Deflation
What is the biggest danger to the euro EURUSD +0.07% zone right now? A fresh banking crisis? The end of quantitative easing in the U.S.? The rise of extremist, anti-euro politicians in countries from France to Italy to Greece? They are all a potent threat, and have the potential to knock the fragile recovery in the continent’s economy off course. But in fact the real threat is this — deflation. Three years into a grinding recession, many euro-zone countries are now close to falling prices. In Greece, prices are now going down in absolute terms. In countries such as Spain and Portugal, inflation is getting close ... (full story)
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