REAL Inflation is staggering in Europe, more so when taking into account their modest and declining, purchasing power. Even things that are cheap to US, like Coca-Colas, or McDonalds or econoboxes are quite expensive to Europeans. Not all europeans can afford cars, so they just take the subway or drive scooters. This in stark contrast to the US where even the homeless have cars (well almost). Perhaps the ECB should understand that they just can't completely control inflation (since international oil and agricultural prices are beyond their control); and lower rates to improve the -incredibly high- unemployment rate in Europe.