Particularly here in Germany, people see the new role and the new tools of the ECB as something risky. They are concerned that the low interest rates might destroy future wealth and ruin their retirement plans. Outside Germany, however, the ECB has won respect for its forceful response to the crisis.
People are focusing on the fact that the ECB helped to prevent worse things from happening. And some might even think that it could have done more. So which view is right? Did the ECB save the euro and protect Europe from a crisis that could have been much worse?