Looks like the Swiss are still making headlines, but this time it’s on the sports page. Switzerland’s national hero, Roger Federer, was ousted in the early going of the Australian Open Tennis Championship by little-known Andreas Seppi, a native of Bolzano, Italy. Signor Seppi, however, was not the week’s biggest Italian newsmaker. European Central Bank President Mario Draghi’s announcement on Thursday that the ECB would embark upon an aggressive bond-buying program may have been anti-climactic, but was nonetheless newsworthy. Although this latest step in European efforts to spur growth and avoid deflation was widely expected, the magnitude of the effort was a surprise to many. News of the planned €1 trillion ($1.14 trillion) in sovereign bond purchases was a boon to credit and equity markets, but sent the value of the Euro plunging. ECB spokesmen were quick to squash rumors that Bill Belichick had been called in as a deflation consultant.