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The European Central Bank Is Losing Fight with Deflation

Originally published by International Business Times on December 9, 2013. Read the original article.

Expect Europe's sovereign debt crisis to make a big return to the news headlines. The secret word that reporters will start using more often to describe the Continent's financial troubles is deflation.

Greece has been the symbol of Europe's financial problems. Its economy continues to languish as wages have fallen. Deflation measures have now reached a record, as reported in the European media.

The danger that the eurozone has entered a period of deflation was given added weight as Greece reported its highest deflation since monthly records began in 1960.

... The harmonised index of consumer prices showed that the prices in Greece fell 2.9% year on year in November following a 1.9% drop in October.

International Business Times, Dec. 9

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