This is an outstanding and insightful article from Ambrose Evans-Pritchard, published in the Telegraph. It’s a must read. Check it out!

via Mario Draghi’s QE blitz may save southern Europe, but at the risk of losing Germany – Telegraph.

Personally, I think that this is probably one of the best of the dozens of articles that I have read on QE today. This article picks up the politics and the pain very effectively.

I live in Southern Europe and would caution that apart from QE, it’s going to take massive fiscal stimulus to get people back to work. Also I question the effectiveness of the banks in Europe, especially Southern Europe.

Next, the world’s media will turn to Sunday election in Greece.

Thoughts?