Figure of the Month
Disinflation as a global phenomenon
Source: IMF WEO data.
This figure from Daniel Gros' forum article Understanding the Limitations of Maastricht shows the inflation in the advanced economies and the euro area since the 1980's.
The similar development of the inflation in the Euro area and the other advanced economies contradicts the argument, that the euro brought price stability to Europe. Disinflation was a global phenomenon.