Forget about stimulating the economy, the European Central Bank's endgame is a completely different one, Yra Harris, head analyst at Vine Street Trading, said Thursday.
"This is a bailout of the bad European banks," Harris told CNBC's "Squawk on the Street." "[ECB President Mario] Draghi went as far as he could go before he really ran into the immovable object called the Bundesbank" or Germany's central bank.
"As long as you're talking about bazookas, you're talking about a war. This represents the war between the Bundesbank, Jens Weidmann and Mario Draghi." Weidmann is president of the German central bank.
The ECB on Thursday expanded its already accommodative monetary policy by cutting the benchmark deposit rate to -04 percent from -0.3 percent, while also reducing the refinancing rate to zero from 0.05 percent. The bank also increased its quantitative easing program by 20 billion euros ($22 billion) a month.