, Columnist
Germany's Inflation Dilemma Is a Threat to Europe
A swing to tighter monetary and fiscal policy could reignite the region’s sovereign debt crisis.
Beware what’s coming down the pipeline in Europe’s largest economy.
Photographer: Carsten Koall/Getty Images
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If any country has a difficult inflation problem at present, it might be Germany. Several emerging market central banks have already resorted to tightening, to fend off endemic price pressures. But the dilemma for Germany, and with it the euro zone, is profound.