The Debate

Make or break moment for the euro: Will unprecedented bond-buying beat deflation? (part 2)

The European Central Bank is embarking on an unprecedented 18-month bond-buying experiment, to the tune of 60 billion euros a month through September of next year. ECB president Mario Draghi predicts that bond-buying will push up prices in a eurozone where inflation now stands at -0.2 percent. After the financial crisis, after the sovereign debt crisis and ahead of Greek elections that could again test Europe's financial institutions, is the single currency back on firm footing?