Given the current dispersion of inflation rates, in my opinion, the safety margin implied in this definition is sufficient to protect all member countries against deflation. However, the Eurosystem has to continue to analyse national developments in inflation rates and check if they are compatible with the prevailing price norm.
This should not be surprising because high returns require high risks, and the high returns achieved by Islamic banks could only be generated by taking on a corresponding degree of risk. It is not difficult to see the parallels between conventional and Islamic finance during the years prior to the crisis.