The gain in inflation credibility was offset by weak debt credibility. If the European periphery countries had their own currencies, it is likely that debt problems would morph right back into elevated inflation.
事实证明，欧元并不是像它看起来那样是免费的午餐。在通货膨胀方面的信誉增益被不良的债务信誉所抵消。如果欧洲外围国家有自己的货币，那么债务问题将很有可能会引发通胀上涨。