> The European Central Bank has arguably failed its mandate of keeping price stability within the eurozone when some countries have more than 20% inflation. It

> The European Central Bank has arguably failed its mandate of keeping price stability within the eurozone when some countries have more than 20% inflation. It's not that simple. They could rise interest rates more but Italy and Greece would probably default on its debt, which would make euro a lot more unstable than keeping 20% inflation rate in three very small eastern european countries which corresponds to 3.6% of the whole EU population. Current inflation in euro zone is ~10%.