According to the study, Germany benefits from high inflation

Frankfurt The savers groan under the high inflation rates and years of zero interest rates. But the German state is one of the winners of a relaxed ECB monetary policy. This is one of the results of a study by DZ Bank, which looked at the effects for Germany, France, Italy and Spain.

The bank experts come to the conclusion that a price increase above the ECB’s inflation target of two percent would also help the German government. The main beneficiary would be Italy due to its high level of debt, while France can only reduce its debt relatively little, at least in the final analysis, due to particularly high primary deficits (i.e. excluding interest) in the national budget.

This means that higher inflation could be in the political interest, but of course does not yet prove such an intention. However, the question is asked again and again as to whether the ECB could push through a sharper interest rate hike at all without causing serious difficulties for the more heavily indebted countries.