afew:

Benoît Coeuré (French member of the ECB Board), interviewed this morning on radio France Inter, said that the aim was to push inflation towards the 2% target. But that German insistence on debt reduction and reforms was entirely justified, and these should be conducted simultaneously with pro-inflation measures.

He also said he knew the formula for turning lead into gold, but he wasn't telling.

ECB Board member tells us QE is going to restore the 2% inflation target while the fiscal stance will be maintained, along with "competitiveness reforms" that mean reduction of wages. These guys are the last alchemists indeed.