A cut which means deflation.

http://www.nytimes.com/2013/11/08/business/international/european-central-bank-cuts-main-rate.html?



Not actually welcomed by Germans :
http://www.voeb.de/de/english/

“Euroland’s economy is being strangled by a credit crunch. The real story is that the depression in Euroland is putting severe disinflationary pressure on prices. The forecast is for the downward pressure to get worse before it gets better.”
 I totally agree!
http://www.hifreqecon.com/news-and-events.html

Two points about EZ economic depression. First eurozone is too much a socialist economy with share of GDP in public spending crowding out the demand and supply.
Second EZ banks lack capital and refrain to lend.

http://online.wsj.com/article/SB10001424052702304213904579095101789293062.html