The European Central Bank's inflation conundrum
Some economists, like Simon Tilford of the CER, argue that the eurozone is already stuck in the same kind of economic quicksand that trapped Japan for decades and that the ECB must aggressively stimulate growth now. "There is a point where the eurozone will pass the point of no return," Mr Tilford said.
"Policy needs to be focused single-mindedly on reflating the economy."