On the occasion of the meeting of the European Central Bank (ECB), Mario Dragi has been accused of tinkering in relation to measured expected to be announced.

Patrick O’Donnell, Investment Manager chez Aberdeen Asset Management, was critical in his assessment and stated "Everyone is expecting the ECB to cut the rate at which banks are charged to leave money on deposit at the central bank by 10 basis points. But there's likely to be more measures than that. They might bring in a tiered deposit rate which would soften the blow of negative rates on the banks. We might also see measures to boost liquidity and an extension of the current asset purchase programme. None of this is going to do Europe's economy much good. The tactics which the ECB are pursuing will achieve ever decreasing returns. Negative interest rates could be ruinous to European banks; quantitative easing isn't leading to banks lending much more. It's all tinkering round the edges. European politicians need to stop forcing Mario Draghi to pull rabbits from hats and reform the continent's economies. Sadly, European politicians would rather watch the spectacle from the wings than be part of the act."