http://uk.reuters.com/article/2014/03/14/uk-ecb-deflation-insight-idUKBREA2D0S320140314
(Reuters) - Meeting students at the University of Amsterdam in April last year, European Central Bank President Mario Draghi extolled the virtues of courage, recalling a story his father had told him:
"In between the wars, he saw an inscription on a German monument, a German statue saying that 'if you lose your money you've lost nothing, because with a good business you will take it back; if you lose honour, you've lost a lot, but with good heroic action you can get it back; but if you've lost courage, you've lost everything.'"
Draghi showed his steeliness at the height of the euro zone crisis, vowing to do "whatever it takes" to save the currency.
Now investors would like him to show the same mettle again and take bold policy action to buoy the euro zone economy and steer it away from the economic quicksand of deflation. With no 'shock and awe' policy move in sight, they may be disappointed.