Economic and Monetary Union EMU is the area where Europe has progressed furthest. It is a union where sovereign nations share a single market, a single economy and a single currency. Where they bind their actions through common laws and institutions. Where they remain unified and diverse at the same time. This unique arrangement fulfils the visions of centuries of great European thinkers.
The Bank aims to drastically convert the deflationary mindset entrenched among people and re-anchor inflation expectations at 2 percent, but this has met with difficulties. Given that QQE is unprecedentedly powerful, due attention also has to be paid to side effects that could materialize going forward.