Financial markets may chalk up gains for a bit longer following the latest instalment of Mario Draghi’s “do whatever it takes” performance to shore up weaker euro countries’ debt. However, nerves will be running progressively thin. There is plenty of room for setbacks as traders digest the implications of the horrendously complex stand-off opening up between the European Central Bank president, the Bundesbank, and European governments. While the different players tackle the awkward issues behind these various permutations, we may see a “phony war” across the heartlands of economic and monetary union (EMU). During ... (full story)