DAVOS WATCH: A day on from stimulus announcement, European Central Bank's Draghi wins praise

MarketsAssociated Press

The World Economic Forum held in the Swiss ski resort of Davos has the official goal of "improving the state of the world." In practice, it's a massive networking event that brings together 2,500 heads of state, business leaders, philanthropists and artists.

Here are some glimpses of what's happening and being discussed Friday at Davos:

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Following his announcement Thursday that the European Central Bank was ready to embark on a €1.1 trillion-euro (about $1.25 trillion) bond-buying program, Mario Draghi is being hailed across stock markets around the world. On Friday, European markets added to the stellar gains they enjoyed in the wake of the announcement.

The ECB president also garnered the support of two leading international economic policymakers at the World Economic Forum.

Christine Lagarde, the International Monetary Fund's managing director, told The Associated Press that the stimulus announcement was "well done, well-communicated" and laid out her hope that it will be effective. Meanwhile, Draghi's counterpart at the Bank of England, Mark Carney, said the move was a "welcome step" and "absolutely necessary to preserve the prospects of medium-term prosperity in Europe." Though he cautioned that the measure was not enough to shake the 19-country eurozone economy out of its slumber, he said it creates some of the "necessary conditions."

— By Pan Pylas, , Twitter: http://www.twitter.com/panpylas