The European Central Bank had no choice but to launch its own quantitative easing programme in the end. The jury is still out on whether it will work – but judging by the first reactions, it could actually mark the return to some sort of normality for the eurozone.
The past couple of weeks had been relatively quiet for Russia and Ukraine due to the Russian orthodox Christmas holiday, but this week the rollercoaster started again.
For German equities, it looks like 2005 all over again, and that’s a good thing.
Investors are punishing the eurozone’s biggest economy unnecessarily, so it may be the time for the brave to take a dip into German stocks.