Opinion: ‘What next?’ is the major question facing the ECB

As we look back on the decade since the financial crash, many phrases linger in the memory. One of the most telling, and ultimately the most successful in saving the euro, was European Central Bank president Mario Draghi’s 2012 announcement that he would do “whatever it takes” to ensure the survival of the single currency, writes John Daly.

NOW that the ECB has halved its monthly asset-buying spree, from €30bn to €15bn — and plans to have phased it out by the end of the year — the question of what comes next will dominate 2019.