The risk of global inflation is the biggest in decades, but Europe's common currency should help member states overcome the problem, European Central Bank governing council member Christian Noyer said in an interview with Le Figaro.
"Even if today, when inflationary risks at a world level haven't been so high for decades because of the surge in commodity prices, Europeans can have the feeling that thanks to the euro, this challenge will be overcome," Mr Noyer said.
"Certainly growth might seem less stellar that some people dreamed of. The euro is not at fault but rather the reluctance of certain countries to push ahead with structural reforms that are necessary to improve potential growth," he added.