Consider this chart:
There is a longer discussion here. One way to read this is: “That’s not yet a lot.” Another is: “Oh my goodness, they’ve already been doing quite a bit.” Another is: “Lots of buying without a credible signal of future intent isn’t worth a whole lot.” I would stress the point that credible long-run signals don’t exist for Europe right now. No one knows what “the game” will be like a year now, or less. That makes all possible solutions harder to pull off, since announcements can be shrugged off as idle chatter.