2012: Whatever it takes. 2014: Everything it takes

For all practical purposes we have reached the lower bound…

But also:

Are we finished? The answer is no… within our mandate, we’re not finished yet.

Both were statements by Mario Draghi on Thursday. It’s really the swarming effect of the policies the ECB announced on Thursday, after all, right? Not so much the Outright Monetary Transaction-style bravura, which (let’s not forget) the market also underestimated two years ago.