-
Draghi's eurozone rescue gamble may not bluff the markets for long
Central bankers' first instinct, when faced with an awkward and very large problem, is to hope it goes away. Thus Spain's cost of borrowing was allowed to rise unchecked for six months. The yield on the country's 10-year bonds rose from 5% in February, to 6% in March, to 7% in June and, in recent days, to an alarming 7.5%. The second instinct is to intervene – verbally. This is the stage Mario Draghi, president of the European Central Bank, reached on Thursday. An impressive arrival it was too. "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Jul 26, 2012 6:38pm Jul 26, 2012 6:38pm
- culibate
- | Joined Feb 2012 | Status: Member | 184 Comments
- Comment #2
- Quote
- Jul 26, 2012 6:48pm Jul 26, 2012 6:48pm
- Marpin
- | Joined Mar 2012 | Status: Member | 11 Comments
- Comment #3
- Quote
- Jul 26, 2012 7:00pm Jul 26, 2012 7:00pm
- TraderUSA
- | Joined Aug 2011 | Status: Member | 809 Comments
- Comment #4
- Quote
- Jul 26, 2012 7:30pm Jul 26, 2012 7:30pm
- Guest
- | IP XX.XXX.164.7
- Comment #5
- Quote
- Jul 26, 2012 8:29pm Jul 26, 2012 8:29pm
- wlarimer
- | Joined Jun 2010 | Status: Member | 910 Comments
- Comment #6
- Quote
- Jul 26, 2012 8:39pm Jul 26, 2012 8:39pm
- clockwork71
- | Commercial Member | Joined May 2007 | 1176 Comments
- Comment #7
- Quote
- Jul 26, 2012 9:26pm Jul 26, 2012 9:26pm
- Guest
- | IP XX.XXX.164.7
- Comment #8
- Quote
- Jul 27, 2012 2:06am Jul 27, 2012 2:06am
- billv
- Joined Dec 2011 | Status: Member | 1068 Comments
Have a nice day