Comparing the trend of unemployment among the euro-zone and the United States, Draghi stresses the difference in setting fiscal policy. But the conclusion, in conformity to the German path to growth, is wage deflation and export-led model for everybody in Euro-zone.

What, at the start, was billed as a global crisis has increasingly become  a devastating  euro zone crisis. Mario Draghi has stressed the policy of the ECB based on the mix of three questionable arrows.