The European Central Bank cites its ‘primary objective’ of monetary policy is to ‘maintain price stability’ (ECB website). The pursuit of price stability is important to this major economic power and theoretical and empirical evidence fully supports the view. Thus, relative prices move out of line and again resources cannot be distributed to their best use. In one study of how wages change it was discovered, not surprisingly, that workers are resistant to nominal wage cuts even if the real value of their wage remains the same (Dickens, 2006).