Dopey, with the EZ inflation rate at .5% now there are some countries that are in deflation (PIIGS). Gucci has one hand tied behind his back.
Either Germany wants the Union to stay or it doesn't.
'What ever it takes' really means 'what ever Germany will allow'.
Austerity has brought deflation to the PIIGS and conventional tools are being denied. Negative interest rates are highly experimental but the block seems so close to falling apart that it just might be worth a try.
But Germany runs the show so the choice is up to them: do they want a fiscal union or not.
