European Economy

More ECB Stimulus Raises the Question of Insanity

Quantitative easing isn't working, but Mario Draghi will keep trying.

Is the ECB out of ideas?

Photographer: Daniel Roland/AFP/Getty Images

European Central Bank President Mario Draghi has all but promised to expand and extend the institution's quantitative easing program when the ECB meets Thursday. But the logic by which he arrives at the argument for more QE would challenge even Mr. Spock at his most Vulcan. It's worth walking through some of that thinking, and some of the anomalies it produces.

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