Xavier Puig: 'The current economic situation of Western countries could be summed up as zero growth, zero inflation and zero interest'

Prices in the euro zone fell for the first time in five years, and, in December, the year-on-year inflation rate in the euro zone dropped to -0.2€. Due to the fall in oil prices, the price index has dipped below zero, while the fear of deflation has caused the euro to fall to 1.181 dollars, beneath the all-time low recorded in 2006. 'The current economic situation of Western countries could be entitled: zero growth, zero inflation and zero interest.' Again, and as has occurred several times since 2007, those of us in the financial market are forced to face another unknown situation', claims Xavier Puig, Director of Banking and Finance Programs at UPF Barcelona School of Management.

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