Two Cheers for Mario Draghi

Mario Draghi's QE initiative at the ECB risks delivering too little, too late.

Thumbs Up to Quantitative Easing.

Photographer: Martin Divisek/Bloomberg

Even in the modern era of forward guidance from central banks, today's introduction of a government bond-buying program in the euro region is one of the most hyped, anticipated and leaked policies ever. Still, the initiative risks delivering too little, too late, leaving the bloc struggling to grow and afflicted by deflation.

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