This transcript has been automatically generated and may not be 100% accurate.  ... European Central Bank governor Mariya Draghi says he's not going to take new measures ... to boost the continent's economic growth for now here editorial page editor chose term bird joins from London show ... what is Mr Dr the scene exactly easy ... easy really taking so-called quantitative easing pushing money and the bank's easy take that off the table ... primary actually the big news today is that he has done the opposite of Nerf you actually look to the statements on ... it seemed to be moving more ... into correction Marie are going to see quantitative easing next year ... um I think that the stats from this purpose he wanted to make sure that there's a little more time for some of the view on purchases of asset purchases with them this year ... to sink into tried to generate some political consensus among some of the opponents of quantitative easing here ... are a lot of market participants are what you're going to be expecting some form of QE especially sovereign bond purchases are early next year ... Joe I'm getting the sense ... that market actors banks investors that everybody in Europe ... is just reliant on Mr Gerard me ... to prop up their economies is that right ... I mean the bigger story here is the pressures of mounting the CP and especially of Mario Truckee ... is ... true for the past year ... to spur trying to act more aggressively Paul Parker and monetary war ... alliance with you could try to stimulate European economies know the problem is that more of this debate has been going on ... we haven't been talking a couple of the things that European governments to themselves to enter her Kinniry have had ... a big discussion of doubly per worker performance in France are we haven't really talked enough about the fact that it's a decade ... since there is a big reform drive in Germany ... hi everyone this really leaning on Mario Truckee and it's trying to encourage other policy makers in Europe to act ... up that so long as he's still also dangling of the possibility that there is going to be an intra monetary easing ... other possible loss of a sense of urgency there ... Joe is that dangerous ... that are aligned so much on a single individual in hanging on every word that he says ... I it because even if the op pullback from the central bank interventions one of the harder later I think these up ... well I think that that the bigger danger here is that so long as this goes on are you keeping this thing week after week and month after month and you could policymakers and a lot of these national capitals in Europe during the kind of economic forms that are going to get the continent back on track ... I mean I refer to that looks a lot more dangerous than the soft focus on the ECB and Frank were written how ... on earth and sleep in an ongoing political meltdown terrorists which means it would go from there is increasingly paralyzed ... um able to push forward with any kind of reform agenda ... so I mean a I think you're right that the year we have this couple more were talking too much about monetary policy right now ... are ... far bigger danger is all of the things that we are talking about talking too much about monetary policy right now Joe Sternberg thank you so very much for joining us
Europe Editorial Page Editor Joseph C. Sternberg explains European Central Bank Governor Mario Draghi’s decision to delay quantitative easing until 2015. Photo credit: Getty Images.