I have already addressed the question of whether all the price rises can be put down to a few special factors, obviously not under our control. The fact is that the price rises are broader than that. But even if all the initial impetus for higher prices comes from events abroad, we still have to decide how we will respond to that shock.
On the contrary, a premature entry into the euro area would deprive the countries from important adjustment tools and would therefore not be in the interest of the country joining. A credible euro adoption strategy is important A credible euro adoption strategy helps stabilising the economies, as it provides an important anchor for policymakers.