Monday, December 12, 2011

ECB Draghi plays hardball with Europe

Comments from ECB president Mario Draghi shows that he will adhere to the mandate of the ECB whether for better or worse.

"...the method by which money is being channeled to European countries should not obscure the fact that the treaty says no monetary financing to governments."

"...role in a sense of the guardian of stability..."

He is unlikely to bail-out governments in the near-term.

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