QE for the eurozone is a gigantic confidence trick. It should fool no one | Simon Jenkins

Quantitative easing will simply bury money in commercial bank vaults, when it is cash in circulation that’s desperately needed

• Live blog: Thursday’s developments in the eurozone

At last the euro’s lords and masters have accepted that something must be done about their zone’s lamentable growth. They will unleash a massive bond-buying programme totalling a reported €1tn. The former BBC economic pundit Stephanie Flanders told the world it was “Santa Claus time”; the European Central Bank (ECB) h...