Mario Draghi doesn’t have a whole lot going for him, but he is at least consistent – at times (yes, inconsistent consistency). Bloomberg helpfully reported yesterday how the ECB’s staff committee that produces the econometric projections has recommended the central bank’s Governing Council change the official outlook. Since last year, risks have been “balanced” in their collective opinion. Given what’s happened this year, especially how different it’s been from what it was supposed to have been, the suggestion was for “downside” rather than “balanced” risks. This would be more like reality. The Governing Council ... (full story)