Draghi under pressure to jolt eurozone into life

Mario Draghi is once again testing whether words can replace action. 

Since the European Central Bank president said last week that policy makers will use “all the available instruments needed to ensure price stability” and are “ready to adjust the policy stance further,” the euro has weakened and the region’s bond yields have dropped to record lows.

Draghi’s comments rekindled memories of his 2012 statement that he’ll do “whatever it takes” to save the single currency and a subsequent pledge to buy the debt of stressed countries if needed.