ECB disappointment could see EUR/USD move higher  Kill joy
Germany  None of this is a dead certainty. Germany for one has
been critical of the ECB with even calls to cancel it's very
successful Outright Monetary Transactions program, which has
been vital for driving down borrowing costs for peripheral
Eurozone countries without ever being deployed.  Exploring more
creative forms of monetary policy, such as quantitative easing,
are not likely to be contemplated at this stage not least
because it might be too difficult for Germany to swallow
politically. Another issue is that the ECB has very conservative
views on fiscal policy and there is a steady shift in Europe
toward easing up on austerity programs. The ECB therefore may
take the view that there is less need to rely so heavily on
monetary policy.  The real problem in the Eurozone is the lack
of demand and the fact that 'cheap money' is in many cases
simply not reaching households or small businesses. As the ECB
has often said, it is limited in what it can