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ECB's Gonzalez-Paramo on inflation differentials

In the speech 'Inflation differentials in the euro area' given on 23 May Jose Manuel Gonzalez-Paramo of the ECB said lasting inflation differentials that are the product of misaligned national policies or structural inefficiencies may be damaging for the national economics and need to be addressed by national policies.

In particular, Gonzalez-Paramo said, suitable structural policies aimed at enhancing the relevant countries' flexibility and adaptability to continuously changing conditions in the

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