EUROPE'S CENTRAL BANK BETS BIG ON STIMULUS.

The article discusses circumstances surrounding the implementation of a program of quantitative easing (QE) by the European Central Bank (ECB) under its president, Mario Draghi. Commentary is presented about economic conditions in Europe that prompted Draghi to champion QE, Draghi's success in persuading the ECB to adopt his preferred monetary policies despite having cultivated few close allies there, and his sometimes tense relationship with Jens Weidmann, president of Germany's Bundesbank.