ECB to European Banks: “let’s put more and more pressure on already shaky EU Bank revenue margins and balance sheets just because we want parity with the US Dollar”. After five years of negative rates - it hasn’t done anything to stimulate demand and Lagarde has no clear way forward to get back to zero. Ask the BoJ how it’s worked out
The European Monetary Union badly needs a Euro Bond! They will have continual problems until the finally create a truly unified monetary union. One solution to the problem, not the best one though, would be to jettison Germany from the EU monetary union.
The ECB introduced negative rates in June of 2014 and they have no clear way out. For the price of successfully weakening the Euro/Dollar FX rate Eurozone Banks have not been able to shore up their fragile balance sheets. Draghi got them into the quagmire and Lagarde doesn't really have a clear path out. Weaker labor markets are setting up Eastern European labor to displace Western European workers. But hey, Draghi wanted a weaker Euro so there's that.