(6-12-14) Mario Draghi has finally stopped dragging his feet and did what was necessary. He was the master of jawboning, but he got all the economic lift he could out of jawboning the markets, intimating that more QE was on the way in Europe.
Essentially Mario Draghi, head of the European Central Bank, just re-established the Euro version of Quantitative Easing or QE. Why? To create "inflation" - the same thing all the central banks on the planet are trying to do.
What happened was that rates of EuroZone inflation continued to fall and he was forced to move -- like it or not. Unlike the Fed, Draghi understands the dangers in expanding a central bank's balance sheet endlessly through the repurchase of debt that's being issued by various Euro Zone governments.
Of course there's a down side to that that when the so-called unwinding process has to begin wherein the central banks have to begin selling all the paper they've been buying over the years.
This argument is made about the Fed all the time.