Mario Draghi, head of the European Central Bank, announced the decision to implement Quantitative Easing (QE), purchasing government bonds worth as much as €60 billion per month until September 2016, for a total of €1.1 trillion. The EU is experiencing deflation in various parts of the world, and the announcement had been expected and anticipated for several months, but not on this scale. The measure is indefinite and could be extended further, and is aimed at bringing inflation back up. Similar measures have already been taken in previous years by the United States, the United Kingdom, and Japan.
