More comments from ECB’s Executive Board member Benoît Cœuré in Davos, this time lobbing the ball back firmly to governments ….

  • “The political foundation of the European project is being weakened”
  • “We can’t do everything for Europe, we did our part on Thursday, others have to do their part. There is nothing we can do as the ECB to lift growth in a lasting way”

That’s a Reuters piece here

Bloomberg, too, report:

  • Coeure helped formulate the initial quantitative-easing proposal, which he said was created to win as much support as possible in the 25-member Governing Council
  • “We’ve been able to design it in a way that brings as many people as possible on board … We’re happy.”
  • Five members took issue with the plan, with Bundesbank President Jens Weidmann and the German member of the Executive Board, Sabine Lautenschlaeger, voicing the strongest disagreements, according to euro-area central bank officials. Weidmann criticized the plan in a German newspaper on Friday.

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While the moaning and wailing will continue, the eyes of the market will be focused on Greece today (January 25) and in the early hours of the market opening tomorrow. Ryan put his souvlaki aside for just a moment to write this excellent guide to the election: Preview of the Greek general election Sunday 25th January 2015