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Some analysts think that may be sufficient for the ECB council to press the QE button later this month.
It was most likely quite a controversial point within the ECB council and testifies that the majority of ECB council members strongly believe that further debt restructuring can be avoided.
When the ECB council makes its regular monetary-policy decision at the start of each month, this affects the rate or terms at which it lends to banks.
Tellingly, the other German on the ECB council, Jörg Asmussen, endorses Mr Draghi's view that the ECB should intervene to assuage fears that the euro will break up.
The second – and far more likely – explanation is that Draghi wanted to do more but had been prevented from doing so by divisions on the ECB council.
The inclusion of the word undershoot was seen by traders as a clear signal that the ECB council would cut rates when it meets next Thursday.
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Or the ECB governing council may disappoint us all.
WHEN the European Central Bank's (ECB) governing council meets on January 22nd, it will take a historic decision.
Was the ECB governing council united in backing Thursday's decision, or was there opposition?
Draghi is likely to face opposition on the ECB governing council, particularly from Germany, which does not believe more QE is appropriate.
1.35pm BST Outright Monetary Transactions plan confirmed Draghi confirms that the ECB governing council HAS agreed the details of a programme to help the eurozone's struggling members.
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