The structuralist theory drew a strong distinction between the economies making up the developed "center" and those in the less-developed "periphery" and concluded that policies appropriate for the center were unlikely to be right for the much poorer and structurally less developed nations on the periphery.
The reason why we reduced the official interest rates to historical lows is that the outlook for inflation had declined yet again. According to the latest estimates of Eurosystem economists, the Harmonised Index of Consumer Prices (HICP) for the euro area will rise by only 0.7% this year.