The euro zone has a 10% inflation, higher than the US. The reason it does not raise rates is because of the sorry state of EU economies and public finances. That means inflation will remain elevated. I don't know if "work" is the right term. Some people seem to be very happy with money printing and cheap credit. They just don't like the consequences of their own actions.
A country that keeps rates at 2% when inflation is 10% has a fool (or a lawyer) as a central banker.
Look at the US Dollar index, which compares it to a basket of 6 other globally influental currencies: https://finance.yahoo.com/quote/DX-Y.NYB?guccounter=1
This happened primarily due to the quick rise in US interest rates, making USD more attractive to hold.
Additionally, Euro slid down due to the energy crisis and a war on the EU's doorstep, not because Euro as a concept doesn't work.