European Central Bank President Mario Draghi has declared that eurozone economic growth is on a steady course and that the risk of deflation is fading, allowing the central bank to phase out its bond-purchase program by the end of December. Such “mission accomplished” rhetoric is entirely contrary to reality. In truth, the ECB’s bond-buying program has largely failed: economic growth is slowing, and inflation remains worryingly low. With the ECB reaching the political limits of its actions, perils lie ahead for the eurozone economy. At his Sept. 13 press conference, Draghi insisted that the euro-area economy is set ... (full story)