Draghi’s Deflation Warning and the QE Obstacle Course
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Between Mario Draghi and quantitative easing lies an obstacle course.
The European Central Bank president’s signal that he’s considering large-scale bond purchases raises the question of how to surmount hurdles from political and legal challenges to conflicts with measures announced just three months ago. For policy makers meeting in Frankfurt this week, those factors add to an already complicated debate on how to shore up a euro-area economy that’s edging closer to deflation.