The palliative that is QE.

This entire excercise in signalling QE and framing it as "the tool" to solve the myriad EU banking problems is bordering on comedy.

When policy makers resolved last week to start purchases of 60 billion euros ($65 billion) a month in sovereign debt and other assets, they failed to agree on how to share losses from buying bonds with negative yields, according to three euro-zone central bank officials. National central banks might try to avoid such securities for now, according to one of the people, who asked not to be identified because the talks are private.