The World from Berlin 'The ECB Is Doing Governments' Dirty Work'

The ECB's announcement on Thursday that it is prepared to make unlimited bond purchases in order to lower borrowing costs for countries in crisis could mark a turning point in the euro crisis. German commentators, however, criticize the bank for becoming a hostage to politics.
Thursday was a busy day for Mario Draghi (second from right), seen here as he arrives for the M100 Media Prize award ceremony in Potsdam with German Finance Minister Wolfgang Schäuble (left).

Thursday was a busy day for Mario Draghi (second from right), seen here as he arrives for the M100 Media Prize award ceremony in Potsdam with German Finance Minister Wolfgang Schäuble (left).

Foto: THOMAS PETER/ Reuters
-- David Gordon Smith