[...] it is a sign of weak demand, and if it becomes ingrained can lead to chronic stagnation if people begin anticipating flat or falling prices in purchasing decisions and wage agreements. Weak inflation of the sort prevalent in the eurozone makes it harder for the currency union's indebted members such as Greece to reduce their burdens and to bring their business costs down relative to their eurozone trade partners — a necessary step in their economy recovery. The ECB's stimulus is in sharp contrast to the path pursued by the U.S. Federal Reserve, which has ended its own bond purchase program and is now expected to start raising interest rates from near zero at its next meeting Dec. 15-16.
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