What Draghi is proposing is as with everything else within the EU too little, too late.
On its own the stimulus is a temporary measure which will have to be accompanied by welfare reform, pensions reform, a stronger attempt to root out corruption and radical transformation of business, local authority finance and productivity.
Draghi has not talked about these other measures and neither has Renzi, the Portuguese Prime Minister and, of course, the Greeks.
Europe’s conservatives have had enough of taxation, EU subidy and immigration. Meanwhile, liberals, socialists and the hard-left want social policies to promote jobs and give them and their families greater quality of life. As usual, politicians are not being fully open. But there is a reckoning coming with elections in Germany, France and the Brexit referendum.