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Inflation risks are "broadly balanced" and economic risks remain "on the downside," says ECB...

Inflation risks are "broadly balanced" and economic risks remain "on the downside," says ECB chief Mario Draghi at his press conference (following the rate cut this morning). Draghi ends his introductory remarks by throwing the baton to EU governments, saying they must continue with fiscal consolidation and target competitiveness. Future rate cuts, however, are not ruled out. European stocks (FEZ) remain moderately higher, the euro (FXE) about flat.
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  • whidbey
    , contributor
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    Draghi might as well have told the members that he does not have a plan (charging for deposits is a quick death for banks and the EU). And if the individual governments don't commit political suicide by making major changes things are unmanageable. The EU is in deep trouble maybe for a long time.
    5 May 2013, 01:43 PM Reply Like
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