Still convinced it's different this time? Think again... these 9 charts suggest Europe is very much on its way to Japan... and remember Japan was doing QE through this period too...
click image for large legible version
"People often frame problems both in Japan and in the Euro area in terms of deflation... [so they] tend to think that they are monetary problems that can be easily solved by monetary policy, and poor policy prescriptions can result.” - Masaaki Shirakawa
Clearly that is not working!
Source: Goldman Sachs