It's somewhat less dramatic than when Draghi first pledged to save the euro, but ECB's Mersch is also promising to do what it takes for "the euro to have a long and prosperous life". But he sounds less enthusiastic than Draghi about doing much in terms of policy to ease monetary conditions. A hawk close to the Bundesbank, Mersch warns of the limits of policy, or "pushing on a string." Though the hawks appear to be in the minority now, the level of resistance to further moves indicate Draghi may face an unappealing debate over further action, no matter how ready to act he may be. Here's how the ECB hawks and doves stacked up last year amid the OMT
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