The real question is whether we can reach our inflation target of 2% any sooner than we are now forecasting. Inflation of 2% in the medium term would be good news for the euro area. It would pave the way out of the low interest rate environment.
The debate surrounding globalization has been, in turn, lively, passionate, acrimonious, ill-defined, chaotic, noisy, constructive, untidy, and amorphous. What adjective you choose defines where you stand on the debate. But what is even more striking is that this is a debate that  2  BIS central bankers’ speeches  has frowned on moderation.