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Draghi : we overestimated inflation for 2014, our current estimate for 2015 (0.7%) does NOT take into account the slide in oil prices, so it's urgent to do nothing until we have evaluated the supplementary impact.

Positive : QE will be possible in Q1 2015, and does not require unanimity of governors.

Negative : While comprehensively betraying their mandate on inflation, the ECB hectors nations to "reform" - NOT their mandate.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Dec 4th, 2014 at 10:11:20 AM EST
Negative : While comprehensively betraying their mandate on inflation, the ECB hectors nations to "reform" - NOT their mandate.
Proof positive that Draghi is not a "politician" but a "financier".

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Dec 4th, 2014 at 10:31:32 AM EST
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