, Columnist
Lower Inflation Could Mean Trouble for the Euro Zone
Rising prices have papered over a lot of problems with the single currency, but disinflation could bring them back.
A newly pressed Croatian two-euro coin.
Photographer: Oliver Bunic/Bloomberg
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There is a new conventional wisdom about the euro, driven in part by the recent entry of Croatia into the euro zone with much cheer and little disruption: The currency works fine, thank you, and the euro crisis of 2011 is a distant memory.
Unfortunately, the scenario is not quite so rosy.