ECB officials fret over quantitative easing

Looking out from the top of the ECB’s new tower in Frankfurt, it’s easy to find dark clouds on the horizon. 

The view for policymakers is of a eurozone populace so weary of years of economic turmoil that it’s increasingly electing politicians who say no to pan-European co-operation, and spurn reforms that the ECB says are vital to revive the economy.

Trapped by their mandate to prevent deflation, officials fret they might soon be forced to roll out quantitative easing that can never succeed by itself. In speech after speech, central bankers led by president Mario Draghi have urged governments from Paris to Rome to complement ECB stimulus by overhauling economies and bolstering investment.