While many people expect some sort of stimulus from the European Central Bank over the next few months, it could be too late. That's according to Jonathan Portes, Director of the National Institute of Economic and Social Research. ECB President, Mario Draghi is due to make a major speech in Amsterdam on Thursday.
Portes is scathing in his view of the way the ECB has handled things over the past few years. There's only a feeble recovery, he says, and he accuses the ECB of irresponsibility in dealing with deflationary pressures; it's been a "complete failure", he says.