The prerequisites for inflation do not exist at present

“The threatening scenarios are a factor. They cannot be ignored.”

Tnvestors found themselves staring spellbound at the quotation boards A of financial markets in mid-March. The inferno in Japan had stoked uncertainty in particular, which was already high due to the uprisings in North Africa and the sharp rise in the oil price. Christian Ohswald, Manager of Private Banking at Raiffeisenlandesbank Niederdsteneich- Wien, puts it thus: “The threatening scenarios are a factor. You cannot simply ignore the levels of national debt now prevalent in European periphery countries, the problems in the Arab world, or the situation in Japan.”

The signs were positive when it came to saving the euro, at least, after heads of government in the Eurozone states reached an agreement to double the euro rescue package. On the other hand, the rise in inflation, w