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Draghi: "We have a treaty which bans monetary financing (of government debt) ... the treaty...

Draghi: "We have a treaty which bans monetary financing (of government debt) ... the treaty embodies the best tradition of the Bundesbank ... the ECB's primary remit is price stability." In the last 15 minutes, the ECB president has exploded a month's worth of leaks and rumors, and risk markets, for now, aren't pleased. European shares and the euro are at the day's lows.
Comments (21)
  • wb777
    , contributor
    Comments (20) | Send Message
     
    A man of principles. LOL
    8 Dec 2011, 09:17 AM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    Translation, we'll just have to change the damn treaty.
    8 Dec 2011, 09:22 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9923) | Send Message
     
    How many times does the ECB have to confirm that price stability is their mandate, not maximum printing to prop up sovereign debt.
    8 Dec 2011, 09:24 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    How soon before he has a maid claiming sexual harrasment...??

     

    He is right....but the Politicians and the bankers donĀ“t care...
    8 Dec 2011, 09:28 AM Reply Like
  • Tom Guttenberger
    , contributor
    Comments (717) | Send Message
     
    So, I am the only one who is unclear exactly what rumor is being refuted here?

     

    What a circus.
    8 Dec 2011, 11:04 AM Reply Like
  • rishi2403
    , contributor
    Comments (2) | Send Message
     
    Where can I get breaking news of this Draghi guy ; I was long in Copper suddenly he takes the whole market down, taking out my stops LOL
    8 Dec 2011, 11:08 AM Reply Like
  • SA Editor Stephen Alpher
    , contributor
    Comments (540) | Send Message
     
    Right here!
    8 Dec 2011, 11:26 AM Reply Like
  • Angel Martin
    , contributor
    Comments (1291) | Send Message
     
    they will print, just not yet.

     

    Since they have broken all the other EU rules on bailouts, haircuts, debts, deficits, I don't think we have to worry if they will break the monetization rule.
    8 Dec 2011, 11:30 AM Reply Like
  • stevegrowth
    , contributor
    Comments (109) | Send Message
     
    Choose one : Print Money or Die
    8 Dec 2011, 11:45 AM Reply Like
  • spinninglotus
    , contributor
    Comments (21) | Send Message
     
    EFSF,IMF fund are all taking too long to act and limited in power.They are dealing with massive withdrawal of funds from European markets,massive deleveraging,massive market attacks with soaring interest rates...If ECB cannot act further, there is no way Europe can survive....Be prepared for massive sharemarket crash with break-up of Eurozon...no more time wasting Europe Summit and endless talking about budgettinh and budgettinh...
    8 Dec 2011, 12:07 PM Reply Like
  • Regarded Solutions
    , contributor
    Comments (15445) | Send Message
     
    The printing presses were being shipped as he spoke. He will disengage his head, from the other part of his anatomy soon enough.
    8 Dec 2011, 01:14 PM Reply Like
  • Deja Vu
    , contributor
    Comments (1148) | Send Message
     
    Don't ever believe a rumor until it is officially denied...
    8 Dec 2011, 01:38 PM Reply Like
  • RyanDolan
    , contributor
    Comments (81) | Send Message
     
    Best piece of advice I've heard in a long time.
    8 Dec 2011, 08:55 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    I don't see a big problem with changing the treaty.

     

    What critics are complaining about is that countries like Greece and Italy and Spain have racked up these huge debts financed in Euros, degrading the economies of the center.

     

    Explicitly linking the spending policies of countries that choose to use a specific currency is a good thing.
    8 Dec 2011, 01:40 PM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    Wow wow, this guy Draghi made a lot of sense. I heard him talk and he just said it well. I think that if the ECB manages to behave the way he talked (like a copy of the venerable Bundesbank), we may avoid a currency disaster in Europe. The PIIGS need to cut spending and reform their ridiculous economies. The banks should take losses on their stupid loans and the bankers should get fired. Bravo Draghi,
    8 Dec 2011, 02:03 PM Reply Like
  • Origa
    , contributor
    Comments (543) | Send Message
     
    This is the best time to short the market, this is a Bear rush.
    8 Dec 2011, 02:14 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5685) | Send Message
     
    I will gladly take that action. The gotterdamerung caucus, the chicken littles, are going to be disappointed again.
    8 Dec 2011, 04:17 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4008) | Send Message
     
    Alvederzane euro.
    8 Dec 2011, 02:30 PM Reply Like
  • mP1
    , contributor
    Comments (386) | Send Message
     
    How will the markets react to a massive printing ? Anyone...
    8 Dec 2011, 11:15 PM Reply Like
  • pdtor
    , contributor
    Comments (1486) | Send Message
     
    Can you say GOLD
    9 Dec 2011, 12:33 AM Reply Like
  • mP1
    , contributor
    Comments (386) | Send Message
     
    Well so far Gold has been lousy for the past few months when this madness intensified...
    9 Dec 2011, 03:12 AM Reply Like
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