With the threat of stagflation growing stronger, the ECB is allegedly still reluctant to raise interest rates. This is very troubling, especially with stagflation lurking in the woods.
The twin villains of high inflation and high unemployment have not left Europe. They are just taking a nap under a pile of moderately optimistic economic data.
The overall trend in the European economy points in the wrong direction. Therefore, it is a very bad idea to raise any taxes in the EU. It does not matter that the taxes the EU has proposed will fail to generate the revenue that the MEP tax grabbers are hoping for.
