The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

European Central Bank President Mario Draghi has said in the past that the ECB was prepared to use quantitative easing if necessary. That time may now have come.
European Central Bank President Mario Draghi has said in the past that the ECB was prepared to use quantitative easing if necessary. That time may now have come.
(YVES HERMAN/REUTERS)

Deepening EU slump may force Draghi to pull QE trigger

Europe’s foundering economy sprung new leaks Thursday – and they’re serious enough to turn up the heat on the European Central Bank to get off its hands and deliver a quantitative-easing lifeline.

New data showed that the euro zone’s economy stalled utterly in the second quarter, with gross domestic product unchanged from the first quarter – short of even the puny 0.1-per-cent quarter-over-quarter gain that economists had anticipated. On a year-over-year basis, euro zone growth is now a tepid 0.7 per cent.