We have to look very carefully at the euro area as a whole. There is evidently no such bubble in Germany, whereas in a number of other countries there is an accumulation of price increases of the last years, suggesting that close and careful monitoring is warranted.
Anyone who has tried to push an idea or an initiative forward realizes early on the great difficulties one endures to start off. Many good ideas have perhaps fallen by the wayside, unable to remain viable in a market of competing ideas and differentiated approaches.