The euro has been with us since 1999 and, as an actually circulating currency, since 2002. To achieve this outcome, in many countries major political obstacles had to be surmounted. In Italy, it was necessary to overcome society’s inurement to devaluations and inflation. There was no lack of academic scepticism, including from the other side of the Atlantic.
This expectation is based on the assumption that wage developments will remain moderate in the context of a gradual economic recovery. Moreover, the past appreciation of the euro should dampen price pressures. These views are also reflected in the available forecasts and projections.