The Phillips curve in the euro area is not a straight line - it's actually curved and changes depending on the economic situation. When the economy is doing well, inflation goes up, but when it's not doing so great, the impact on inflation is small. This curve is especially lopsided in countries like Germany, Finland, Italy, the Netherlands, and Spain. Inflation uncertainty also has a big negative effect on the economy in euro countries. The shape of the Phillips curve varies a lot between countries, which means that monetary policy needs to be careful not to cause high inflation in the long run.