Inflation target still eludes Draghi halfway through his ECB term

Frankfurt

MARIO Draghi is halfway through his job and, by the strictest measure of his success, still far from his goal.

The European Central Bank president spent the first four years of his eight-year term battling to keep the euro area intact and winning over opponents to quantitative easing. In the second half of his tenure - if he's lucky - he might actually meet his legal mandate of price stability.

When he clinks glasses with his Governing Council colleagues on Tuesday at the ECB's annual reception, two days after his fourth anniversary as the institution's chief, the 68- year-old ma…