Unemployment in the Eurozone is at a sky-high 11.5% (its peak here was 10%), annual inflation is running at a microscopic 0.3% matching a five year low and is expected to fall further. Worse, manufacturing activity is stalling and is declining in France, Germany and Italy. Given this backdrop, now might be a great time for the ECB to end its masochistic policy of monetary malpractice and start massive QE.