“Don't cry because it's over, smile because it happened.â€Â
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Wait, the Euro Is Still Irreversible, Isn’t it?
In his post-meeting speech Thursday, European Central Bank President Mario Draghi left out a refrain that’s become something like a catch phrase in recent months: “The euro is irreversible.” That phrase was in Draghi’s remarks after the ECB’s Aug. 2, Sept. 6 and Oct. 4 meetings – every meeting since his landmark July 26 speech, where he said the ECB would do “whatever it takes” to keep the euro intact. The speech laid the groundwork for the ECB to announce an unprecedented commitment to buy bonds from distressed European governments. His decision to omit “irreversible” from his latest prepared ... (full story)