Draghi Dodges QE Disappointment With Plan That Might Work

Mario Draghi has delivered a classic European compromise. It even has a chance of working.

With a headline value of 1.14 trillion euros ($1.28 trillion), the bond-buying plan unveiled by the ECB president on Thursday was welcomed by investors, even with its concessions to critics and a flurry of fine print. Draghi pledged to spend until there’s a “sustained adjustment” in inflation and Italy’s Ignazio Visco said the program is open-ended.