They set inflation targets at around 2% – leaving little room for maneuver when the water got choppy. And, most audaciously of all, the European Union introduced the euro as a common currency.
未受检验并且最终错误的假设形成了一个只能用狂妄自大形容的决策环境。官员低估了尾部风险。它们将通胀目标设定在2%左右——这意味着当波涛汹涌时他们根本没有多少施展空间。此外，最大胆的动作要数欧盟引入欧元作为共同货币。