Draghi: He shoots down ideas the ESM (the permanent rescue fund) can get a banking license,...
Draghi: He shoots down ideas the ESM (the permanent rescue fund) can get a banking license, saying the current legal structure does not allow it to become an eligible banking partner to the ECB. At this point, essentially all that was drawn from his comments last week has been shot down. European shares and the euro have staged a 2-3% reversal since the press conference started.
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