The Maastricht inflation criterion

According to the ECB Working Paper "The Maastricht inflation criterion: How unpleasant is purgatory?" the Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with "low-inflation" countries prior to the introduction of the euro, poses challenges for both new EU member countries and the European Central Bank.

While the criterion has positively influenced the public stance toward low inflation, it has biased the choice of the disinflation

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