Structural reform: some of Europe's politicians might have hoped never to hear those words again following bold monetary stimulus from the European Central Bank (ECB). But they'll have to think again.
The ECB on Thursday unleashed an asset-purchase program worth 60 billion euros ($70 billion) a month in a bid to tackle deflation and weak growth in the 19-member euro area head on.
This long-awaited monetary boost throws the ball back in the court of euro zone politicians to do their part to lift growth prospects, according to experts gathered in Davos, Switzerland this week for the World Economic Forum.
"One thing is clear, the ECB's decision shouldn't take the politicians off the hook, they should still do what's necessary," Jeroen Dijsselbloem, head of the euro zone finance ministers' forum the Eurogroup, told CNBC Thursday.