today is a prime example of the ECB's trade off: if it wants to save the euro, it has to keep the money supply stable. if it wants to save the public finances of the deeply indebted euro states, it has to buy euro bonds, i.e. bring fresh foreign exchange into circulation, which further weakens the euro. today the euro continues to fall, while interest rates on european government bonds are falling. has the decision already been made in favor of public finances?

#euro #inflation #debt crisis