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Hyperinflation comes into play when governments loose the ability to tax or mistakenly print more money in response to price increases.

The question for the Europeans is still the issuance of Eurobonds (collectively they have less debt than the USA a country that can borrow for 10 years at 2.5%) or default by some countries followed by departure from the eurozone. Once a country departs than it can print money. The ECB has a mandate for price stability and one of the criticisms is that it has so far placed too much emphases on that.