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QE and the Hangover From the All-You-Can Eat Bailout Buffet

26/01/2015 12:21 GMT | Updated 27/03/2015 09:59 GMT

Even saying the word is complicated. Quant-Ti-Ta-Ive. Or quant-ti-tive. Or just to avoid looking like a plonker - Q-E - which sounds like one is referring to the once great cruise ship which is now languishing in a dock in Dubai.

Mario Draghi, like a Captain struggling to keep the eurozone liner afloat took the helm and did what he promised he would, "whatever it takes."

Some say Super Mario was a little late to the QE party with the UK and the US now reaping the benefits of their programmes, both started a good six years ago. Although Japan, which started the trend, didn't see such great results.

The European Central Bank's plan is bigger than expected and markets were buoyant on the news. It'll start in March 2015 and continue until September 2016. The ECB, together with the national central banks, will pump €60bn a month into the multifarious economies of the bloc. A move that it is hoped will put a stop to the spiral down the plughole into economic stagnation and price deflation.

It's official title, the Expanded Asset Purchase Programme (EAPP) is expected to total around €1.08tn.

It's a bold attempt to prevent panic spreading as the lifeboats are lowered.

However, a rather unwelcome guest at the Captain's table could be about to rock the proverbial boat.

Syriza, the left-wing party dubbed anti-austerity has captured the zeitgeist and fervour of Greeks fed up with barely any public spending and mass unemployment.

From February, Greece will face the consequences of partaking in the all-you-can-eat bailout buffet. Lenders will be expecting their loans to be repaid and the ruling party will have a ghastly headache trying to negotiate new debt terms whilst not reneging on promises of renewed spending and tax cuts.

Some fear the standoff with the Troika - the International Monetary Fund, the European Central Bank and the European Commission - could derail the Greek recovery and spread to other countries re-igniting the eurozone crisis.

Whether smooth sailing or a rocky ride, the voyage will be memorable. Lifejackets at the ready.