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Mario Draghi rescue plan with more misery at its core will not save euro
Mario Draghi has done his bit. As promised, the European Central Bank will wade into the financial markets in an attempt to hold together the single currency until the politicians get their act together and agree on steps towards closer political union. That's the good news. The bad news is that the Draghi blueprint will not be enough to save the euro. The impression left by Thursday's announcement on unlimited bond buying was that it was technically sound but based on flawed economics. The ECB will deploy its firepower to bring down interest rates on the borrowings of troubled members of the single currency provided ... (full story)
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