ijSIYJVqQWd8Mario Draghi called on the European Central Bank to make its biggest push yet to fend off deflation and revive the economy by unleashing a debt-buying spree of 1.1 trillion euros ($1.3 trillion). The ECB president and his Executive Board proposed spending 50 billion euros a month through December 2016, two euro-area central-bank officials said. The plan still faces a tense debate in the Governing Council and may change before the final decision on Thursday, the people said, asking not to be identified as the talks are private. An ECB spokesman declined to comment. By urging Fed-style quantitative easing, Draghi is remodeling the ECB as an aggressive central bank that will take risks even against the wishes of Germany, the region’s biggest economy. Bundesbank President Jens Weidmann and Executive Board member Sabine Lautenschlaeger have argued QE isn’t needed and reduces the incentive of governments to make structural reforms. The proposal “looks larger than implied by the ECB’s previous comments about the size of its balance sheet,” said Riccardo Barbieri Hermitte, chief European economist at Mizuho International Plc in London. “A lot will depend on the risk-sharing features of the program.” More