CIO Vantage Point
August 06, 2012 Posted by:
Joe Morgan, CFA
The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.
After recently stating unequivocally that he would do "whatever it takes" to support the euro, European Central Bank chief Mario Draghi failed to deliver at the bank's monthly policy meeting last week. With great hope the masses would take him at his word, Mr. Draghi stepped into the post-meeting presser and followed last week's promises with more promises this week.
- "The euro will stay."
- "We're not rowing back."
- "It is within our mandate to do whatever is within our power…"
- "I am not a crook!"
Oh wait, that last one was from someone else.
The Italian banker did say one thing we can all agree on: "Monetary policy will not be enough."
Perhaps he should have just left it at that.
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Draghi Finds His Voice - UnfortunatelyAugust 06, 2012 Posted by: Joe Morgan, CFAThe views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.
After recently stating unequivocally that he would do "whatever it takes" to support the euro, European Central Bank chief Mario Draghi failed to deliver at the bank's monthly policy meeting last week. With great hope the masses would take him at his word, Mr. Draghi stepped into the post-meeting presser and followed last week's promises with more promises this week.
"The euro will stay.""We're not rowing back.""It is within our mandate to do whatever is within our power…""I am not a crook!"Oh wait, that last one was from someone else.
The Italian banker did say one thing we can all agree on: "Monetary policy will not be enough."
Perhaps he should have just left it at that.
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