Making Sense of Central Banking, ECB-Style

Not really...but if you wish to try, this New York Times article makes a valiant attempt at teasing out the convoluted ways of the ECB and Mr. Draghi, its brand new president, who seems to be a tiny bit less rigid in his thinking than his predecessor. The main inescapable point remains, unfortunately for the eurozone, that:

In the short run, Mr. Draghi has avoided disaster. In the longer run, it is hard to see a course that enables the peripheral countries to regain prosperity and competitiveness while keeping the single currency.