Of course, it might be argued that this is more like fiscal than monetary policy...

Peak oil is not an energy crisis. It is a liquid fuel crisis.

Actually, three trillion euros might be just the stimulus the Euro Zone needs. However, I wouldn't deploy it quite like that. Perhaps one trillion on renewable energy and distribution infrastructure, another on efficiency improvements and the last on a job guarantee for those still unemployed. And it probably should be spread out over three years. After all, the USA had an $800 billion stimulus which helped, but many argue that it was only half the size needed.

"It is not necessary to have hope in order to persevere."