The Governor of the National Bank of Greece, Yannis Stournaras, member of the ECB's Executive Board, is today bringing faster interest rate cuts into play for the ECB. The Greek explicitly points out that it makes no difference to cut interest rates before the Federal Reserve in the eurozone. We know that the Greek economy has been stuck in deflation for years, that it is considered to be in deflation because of the productivity gap with northern Europe. We know that the Greek economy has been stuck in deflation for years, that it is stuck in a very fragile situation due to the productivity gap with northern Europe. As a reminder, it was Greece that triggered the great European financial crisis, triggered by the real estate crisis in the United States. The financial market crisis has mercilessly exposed the weaknesses of the eurozone, its productivity differences, the different fiscal and monetary policy needs between member states. It is therefore to be expected that southern Europe will continue to press the north to pursue an expansionary monetary policy in order to escape the deflationary trap that is killing fiat money. Are we at the beginning of a phase of rapid debaasement of the euro? The lifeboat is ready!