.ECB's VilleroyIt's crazy that in 2027-- seven years after the widespread emergency situation-- governments will definitely still be cracking eurozone deficit rules. This certainly does not end well.In the long analysis, I assume it will definitely reveal that the ideal pathway for politicians making an effort to gain the following vote-casting is actually to devote even more, partly due to the fact that the stability of the european delays the outcomes. But at some point this ends up being a cumulative activity issue as nobody wishes to apply the 3% shortage rule.Moreover, it all breaks down when the eurozone 'agreement' in the Merkel/Sarkozy mould is challenged through a democratic wave. They observe this as existential and also enable the criteria on shortages to slip even further to secure the condition quo.Eventually, the market performs what it always does to European nations that invest a lot of and also the currency is wrecked.Anyway, more coming from Villeroy: Most of the attempt on deficits should come from investing reductions yet targeted income tax treks needed to have tooIt would be better to take 5 years to reach 3%, which will continue to be according to EU rulesSees 2025 GDP development of 1.2%, unmodified from priorSees 2026 GDP growth of 1.5% vs 1.6% priorStill observes 2024 HICP rising cost of living at 2.5% Observes 2025 HICP inflation at 1.5% vs 1.7% That final number is actually a genuine secret and it challenges me why the ECB isn't signalling quicker price cuts.