German inflation has not been as high for more than 70 years. Yes, there are profound challenges in France, Germany and the EU. The European Central Bank may have misjudged inflationary pressures, but so did the US Federal Reserve and Bank of England. What’s more, Russia’s likely gains in southern and eastern Ukraine underline the need for the EU to stand together. If Macron wins, it will be a signal that Europe is getting through its worst – while Britain has yet to touch bottom.

Source: The Guardian April 24, 2022 08:08 UTC