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European shares are giving up their meek rally attempt as ECB President Draghi takes the...

European shares are giving up their meek rally attempt as ECB President Draghi takes the occasion of a gathering panic to speak about the bank's focus on price stability as keeping inflation expectations down. On Greece, he says the EU treaty sees no possibility of an exit from EMU. "Dude, a lot of stuff is not in the treaty," snipes Dow Jones' Katie Martin.
Comments (3)
  • "price stability"...this phrase is becoming a drinking game.... but the other guy said it better.....
    16 May 2012, 10:00 AM Reply Like
  • Greece will be out of the EUR soon. The Eurozone cannot save Greece and the only way for Greece to recover its industry, of which it has none, is a massive devaluation. My guess is that Greece needs a currency that will quickly lose 80% of its value, if not more.
    16 May 2012, 12:15 PM Reply Like
  • Since the 'bailout' the EU/Troika has taken the vast majority of debt obligations out of pretty much everyone else's hands and taken it upon itself.

     

    Ejecting Greece from the EU would give Greece no reason to make good on those obligations. I.e., it's a really bad idea.

     

    Greece will only leave the EU if it chooses to do so itself, and, well, considering who its creditors are, it doesn't have much reason to do so.
    16 May 2012, 12:24 PM Reply Like
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