Film production in Europe is now more affordable than ever after today's historic announcement by the ECB to spend €1.1 trillion to boost the economy.

The QE (Quantitive easing) announcement was anticipated and will be welcomed by many creative businesses around Europe looking to become more attractive to foreign investors.

With the ECB's announcement of a QE programme that will last until September 2016 we are likely to see the euro remain weak against sterling and the dollar for years to come. As inflation has been at an all-time low, the QE programme is expected to deliver some relief to flagging economies while boosting business investment.

Today, the euro is on a significant decline that will make it more attractive for UK and American productions to shoot abroad or work in co-productions.

Euro vs GBP

For those wishing to visit top festivals like Berlin or Cannes, the news is also good for international filmmakers outside of the eurozone.

After much hype, and months of wait, many will be relieved that the stimulus has finally arrived.