Davos debate focuses on eurozone QE

There is no doubt what the big issue is at the World Economic Forum on Thursday – the European Central Bank decision on quantitative easing.

An early panel with a largely-US cast list was supposed to discuss the likely rise in US interest rates this year from zero. The panel was titled “ending the experiment”. But the experiment of trying to get people to talk about anything other than Europe lasted, according to my calculations, about 10 minutes. The rest of the hour was devoted to Europe and whether QE would work.