So as things stand right now, there is no reason to worry about the euro area recovering in 2015 and 2016. Mind you, all these factors are short-term. One possible concern is the ability to boost the potential growth of the euro area, which has been hit hard by the crisis. That’s more a long-term issue, though.
Aren’t you afraid that one of the effects of QE will be to create price bubbles for certain assets? Doesn’t that risk clash with the price stability objective? Does the ECB have the means to combat these side effects?