ECB

No, the ECB and the Federal Reserve cannot substitute for legislatures and for society as a whole.

If Draghi really is burning the candle at both ends, could it mean that a rumored ECB bond-buyback might be in the works?

And the ECB has committed itself to spend no more than €20 billion a week on bond purchases in the secondary market.

This would allow the ECB to increase the money supply and ease the strain on struggling economies such as Greece and Portugal.