For all these reasons, purchasing private-sector securities alone will not enable the ECB to achieve its stated goal of expanding its balance sheet by €1 trillion ($1.2 trillion). Unable to vanquish the specter of deflation, ECB President Mario Draghi will need to continue working to build a consensus – even better, unanimity – within the bank’s governing board for purchases of government bonds.
出于这些理由，光是购买私人部门证券无法让欧洲央行实现其所宣称的将资产负债表扩大1万亿欧元的目标。无法克服通缩幽灵，欧洲央行行长德拉吉就需要继续致力于构建欧洲央行董事会的共识——全体一致的共识更好——以购买政府债券。