Well this makes for a welcome change. In an effort to improve the #eurozones #fiscalliquidity, Mario Draghi of the European Central Bank has followed the #US Federal Reserve Bank of New York in giving the European Union - EU economy the financial equivalent of a performance enhancing drug. As noted in the article: In the teeth of fierce political resistance from #Germany, #ECB president Mario Draghi said he would inject €60bn of new money into financial markets every month until at least September 2016. The #Frankfurt-based bank will use electronically created money to buy the bonds of eurozone governments – quantitative easing – to try to boost confidence, push up inflation and drive down the value of the single currency, helping to increase exports and kick-start growth...The banker, nicknamed “Super Mario” by traders, promised #QE would continue until we see a sustained adjustment in the path of inflation. I guess someone forgot to tell Angela Merkel that the ECB is an *independent* central bank, making Super Mario one of the most powerful financial titans in the world – and largely immune to political calculations. theguardian/business/2015/jan/22/ecb-boosts-eurozone-mario-draghi-kickstart-growth
Posted on: Thu, 22 Jan 2015 23:58:27 +0000
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