ECB in panic mode?

ECB President Mario Draghi said that interest rates would remain at record lows at least until December.

Growth forecasts for the euro zone were slashed for this year and new loans to euro zone banks were announced.

https://www.cnbc.com/2019/03/08/ecb-new-stimulus-may-not-be-enough-to-boost-euro-zone.html

The ECB's decision to introduce a new series of long-term refinancing operations will offer cheap loans to euro area banks. The so-called TLTROs are aimed to create better credit conditions for customers, which in turn helps drive Europe's economy.

Some, like Italian economist and Bocconi University Professor Tommaso Monacelli, argued that Europe's continued need for the type of support seen throughout the financial crisis is a troubling sign for Europe's economy.

https://www.cnbc.com/2019/03/07/global-debt-yields-sink-as-ecb-acknowledges-sick-european-economy.html

Targeted long-term refinancing operation - TLTRO
TLTRO is a super-cheap funding vehicle for banks that choose to participate, 
getting liquidity into the more challenged parts of the EU’s regional banking system. 
Think Greece and Italy. 

Bloomberg 21 January 2019