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  • Another example's come to mind actually (but it comes down to the same fiscal vs monetary problem): Ireland's tax policy (fiscal) is impacting the way in which the ECB tries to manage it's monetary policy:

    “When more iPhones roll off production lines in China [...] it is hard to believe such shifts could seriously distort Europe’s economic data. But they do. In fact, they do so frequently…

    So much of the revenue these companies record in their Irish units comes from activities that provide few jobs or incomes for residents of Ireland or of anywhere else in Europe. Yet they still have a massive impact on perceptions about how the region’s economy is performing…

    The latest example came when eurozone industrial production figures, published this month by the EU’s statistics arm Eurostat, showed month-on-month growth of 0.5 per cent in June, confounding analysts’ expectations for a slight decline.”

    https://www.irishtimes.com/business/2023/08/23/irelands-wild-data-is-leaving-economists-stumped/

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