For ACCA, the ECB announcement that it will undertake combined monthly purchases of public and private sector securities amounting to €60 billion should be commended. We hope that, as time passes, the ECB will increase the power of these measures by not time-limiting the bond-buying period. We are pleased to see that the ECB intends to carry out the initiative until end-September 2016, and possibly further, as Mario Draghi indicated 'until a sustained adjustment in the path of inflation' is reached.