Draghi stimulus to get Europe going

ECB urges continued spending to achieve sustained adjustment in the rate of inflation

Mario Draghi has delivered a classic European compromise. It even has a chance of working.

With a headline value of 1.1 trillion euros ($1.3trillion) over at least one and a half years, the quantitative-easing package unveiled by the ECB president on Thursday was welcomed by investors, even with its concessions to critics and a flurry of fine print. Draghi pledged to keep spending until there is a "sustained adjustment in the path of inflation".