Nothing is happening the way the ECB wanted

Unfortunately, the ECB must now realise that: Its very expansionary monetary policy has not led to an increase in euro-zone potential growth, while there were expectations that it would lead to additional investment and facilitate structural reforms by bolstering demand; Euro-zone inflation remains lower than the inflation target, and is not picking up, and that core inflation is falling; An increasing number of euro-zone countries are using the very low interest rates not to deleverage, but to increase their public debt ratio s ; Its policy is weakening banks and giving rise to new real estate bubbles. One has to accept the idea that nothing is happening the way the ECB wanted.