Le vice caché de l'euro

This article discusses the followoing phenomenum because inflation rates across the Euro zone contries diverge real interest rates in these countries also diverge. Since relative by high inflation countries are also the fastest growing ones they don't need low real interest rates while slow growing countries which need them get the highest rates.

AFTALION, F. (2003). Le vice caché de l'euro. Les Echos, pp. 21.