As a result, numerous advanced economies are currently experiencing severe  BIS central bankers’ speeches  5  balance-sheet adjustments associated with the bursting of the bubble. These developments are having a subtle impact on how inflation targeting and, for that matter, monetary policies are managed.
This so-called “Franco-German enmity” was surmounted in the wake of the devastating Second World War and developed over time into a Franco-German friendship, an engine driving the process of European unification and integration. However, belonging to a community of values was of particular importance to Germany following the Hitler dictatorship and the Holocaust.