The euro zone has a 10% inflation, higher than the US. The reason it does not raise rates is because of the sorry state of EU economies and public finances. Tha

The euro zone has a 10% inflation, higher than the US. The reason it does not raise rates is because of the sorry state of EU economies and public finances. That means inflation will remain elevated. I don't know if "work" is the right term. Some people seem to be very happy with money printing and cheap credit. They just don't like the consequences of their own actions. A country that keeps rates at 2% when inflation is 10% has a fool (or a lawyer) as a central banker.