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The coronavirus crisis is turning out to be a asymmetric shock for the Eurozone, affecting member nations differently, according to Robin Brooks, Chief Economist at the Institute of International Finance (IIF). 

The Italian inflation expectations for five years ahead have dropped to record lows, while similar gauges for other nations are hovering relatively higher. 

“Monetary and fiscal stimulus are insufficient, which risks a de-anchoring of inflation expectations,” Brooks tweeted Monday.