The change of direction at the ECB is far too hesitant for the Süddeutsche Zeitung:

“People are buying houses that they won't be able to afford in the long term. Euro states are losing an incentive to get their budgets in order. And a bubble is brewing on the capital markets. What if it bursts? And because the ECB can only find adequate volumes of bonds to buy in highly indebted Eurozone states, the proportion of its bonds from countries like Italy, France and Spain is steadily growing. ... The guardians of money are taking huge risks, so huge that even some of the players are getting worried. So it's right to stop now. ... It will be many years until the dangers have been banished, until money and interests have regained their control function for good management. It would have been better to take stronger action sooner.”