That is a question many try to answer. He has talked a lot, acted a little. Will he give in to the monetary stupidity of the Japan and the US or create his own version of it? Time will tell, but given the complexity of the Eurozone I am sure he will figure out his own version unless a miracle happens. Don’t trade based on hope. I think his biggest mistake yet was the negative deposit rate which has not worked in Denmark and will not work in the Eurozone.
The Euro managed to bounce after it dropped sharply. I think we will see a lot more volatility, but for now we have seen a strong move higher.
The negative rate however worked in Japan and in Switzerland. The bond purchasing program is already taking place. Each ECB monetary policy is voted for so other members supported each monetary policy the ECB took so far. Draghi spoke a while ago that thee will be minutes to the ECB meetings for greater transparency. The aim of the program is to boost the economy, time will tell if it really worked, too early to say at this stage. I think there is another TLTRO. I doubt the ECB will take more actions until next year.