Yes, you read that right. €1.1 trillion! That's the amount the European Central Bank (ECB) will inject into the eurozone to jump-start the ailing economy. There's little doubt that the ECB is trying to do quantitative easing (QE), even though they are refusing to call it that. There's a big problem with this though; QE doesn't really works.
Yes, QE is a strategy that appears to have worked in the US but...the magic word there is "appears". Even Americans are unsure about the recovery of their own economy and this is after the US Fed undertook a huge program of QE between 2008 and 2014. Also the UK and Japan did their version of QE and their economy isn't doing so well. The UK economy is based on finance and billionaires parking their money in property, mostly in London. The less said about Abenomics, the better.
Now the EU want to join the bandwagon to the tune of €1.1 trillion? For their sake, I wish them the best of luck.