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Draghi Defends 'Strong EUR Policy' - Press Conference Live Stream

Tyler Durden's picture




 

Following 'no change' in policy, we assume we will be treated to a plethora of confidence-building market-implied views of just how great everything is in Europe (apart from fundamentally). Of course, the Q&A is what we want to hear and his involvement in the Monti Paschi debacle, his view on Anglo Irish, his ignorance of currency wars ("I do not talk about currencies"), and just how great the repayment of LTRO funds are (even as European stocks and bonds move into the red for the year)...

  • *DRAGHI SAYS DATA SIGNAL FURTHER WEAKNESS IN EARLY 2013
  • *DRAGHI SAYS RISKS TO OUTLOOK REMAIN ON DOWNSIDE
  • *DRAGHI SEES UPSIDE PRICE RISKS FROM OIL PRICES, INDIRECT TAXES
  • *DRAGHI SAYS ECB WILL MONITOR MONEY-MARKET CONDITIONS

 

 

 

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Thu, 02/07/2013 - 09:27 | 3222584 GetZeeGold
GetZeeGold's picture

 

 

It's a Groundhog Day press conference......yeah baby!

Thu, 02/07/2013 - 09:55 | 3222688 trav777
trav777's picture

it's strong until their next crisis wave...then they'll weaken it.  This is just a pause so Japan can catch up

Thu, 02/07/2013 - 10:01 | 3222706 Say What Again
Say What Again's picture

Did he just say - in a proud voice - that the funds to banks are UP ~45% over last year?

Is that a good development?

Thu, 02/07/2013 - 09:31 | 3222592 LawsofPhysics
LawsofPhysics's picture

If he wants to "defend a strong Euro", then let the greeks sort themselves out with a Drachma motherfucker.

Thu, 02/07/2013 - 09:32 | 3222597 Stoploss
Stoploss's picture

That's the typical lie, er, response to runaway currency.

" we planned it ".

 

LOL!!!

Thu, 02/07/2013 - 09:48 | 3222652 Sudden Debt
Sudden Debt's picture

When Titanic was taking on water, they also said "all calculated in, don't worry, it's designed to take on water"

YEAH RIGHT!

Thu, 02/07/2013 - 09:34 | 3222601 Fidel Sarcastro
Fidel Sarcastro's picture

Strong Euro? Weak Euro?  It's all ballbearings these days anyway boys. - Fletch

Thu, 02/07/2013 - 11:10 | 3222880 philosophers bone
philosophers bone's picture

Holiday - OHHHH - OHHHH - OH - OH - OH, - Holiday - OHH - OHH - OHHH.  European Vacation - every damn day if you want!!

Thu, 02/07/2013 - 09:35 | 3222606 Haus-Targaryen
Haus-Targaryen's picture

Jesus I hate the Euro.  

Thu, 02/07/2013 - 09:38 | 3222612 The worst trader
The worst trader's picture

Maybe Ben is paying them off to keep the euro strong?

Thu, 02/07/2013 - 09:45 | 3222637 Sudden Debt
Sudden Debt's picture

Whatever it takes to get the gold back

Thu, 02/07/2013 - 09:58 | 3222698 Say What Again
Say What Again's picture

The EURO is only strong / weak relative to another currency (or to gold).

The EURO is strong because the the Dollar is weak.  Thus, we can say that the Dragon is losing the currency war to the Bernank.

Thu, 02/07/2013 - 09:43 | 3222625 youngman
youngman's picture

I wonder is anyone is going to ask him about the derivitives????

Thu, 02/07/2013 - 09:43 | 3222626 BandGap
BandGap's picture

Looks like they have the same flavor of kool-aid as we have here in the States.

Is his nose growing AS he speaks? Amazing.

Thu, 02/07/2013 - 09:44 | 3222628 IridiumRebel
IridiumRebel's picture

Dear rich Euro cocksuckers......BUY AS MUCH GOLD AS POSSIBLE. WE WILL KEEP THIS FUCKER HIGH, BUT ONLY FOR SO LONG. 

Thu, 02/07/2013 - 09:45 | 3222632 Sudden Debt
Sudden Debt's picture

Just give him a knife and a euro in his pocket, put him in a arena and release A HUNGRY LION!!

LET'S SEE HOW HE DEFENDS HIS EURO THAN!!

Thu, 02/07/2013 - 09:47 | 3222651 IridiumRebel
IridiumRebel's picture

Or hungry Greeks or Spaniards......he'd beg for the lion.

Thu, 02/07/2013 - 09:46 | 3222645 LongSoupLine
LongSoupLine's picture

Fuck you Goldman fucking central banking ass eating puppet.

I hope someone kicks your fucking skull in at the press conference you fucking low life scum criminal. Fuck off.

Thu, 02/07/2013 - 09:48 | 3222657 IridiumRebel
IridiumRebel's picture

"RELEASE YOUR ANGER!"

 

-Darth Vader

Thu, 02/07/2013 - 09:48 | 3222654 Haus-Targaryen
Haus-Targaryen's picture

FUCK YOU MARIO! 

Thu, 02/07/2013 - 09:49 | 3222665 OptionNinjaNYC
OptionNinjaNYC's picture

Long Bernanke - Short Draghi ---- Arbitrage Bitchezzz !!!!

 

"Stabaleteeeee"

Thu, 02/07/2013 - 09:50 | 3222666 unwashedmass
unwashedmass's picture

This is alice in wonderland. 

Thu, 02/07/2013 - 09:58 | 3222697 jubber
jubber's picture

Why the fuck are we ralling on that, 40 point straight up on the DAX ???

Thu, 02/07/2013 - 09:59 | 3222701 ReeferMac
ReeferMac's picture

I'm sorry... just look at the guy, He's gotta be a fucking alien. I swear.

Thu, 02/07/2013 - 10:00 | 3222705 IridiumRebel
IridiumRebel's picture

This fiucker is still talking?

Thu, 02/07/2013 - 10:01 | 3222709 H E D G E H O G
H E D G E H O G's picture

watching the video without sound, and was just day dreaming of a .270 caliber slug zinging through this fishheads head. we would have it for all posterity. slo-mo replays and all.  just dreamin'...................'

Thu, 02/07/2013 - 10:04 | 3222714 Vegetius
Vegetius's picture

Look the Irish are happy, they are taking the Anglo Irish Bank debt and are going to add it to the National Debt thats got to work!... Right?

Good to hear everything is on the up Mario! Deflation is going down, prices stable........ Wow

In short it is FUBAR

"If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State".

- Joseph Goebbels

Thu, 02/07/2013 - 10:10 | 3222734 DavidC
DavidC's picture

Except that those dangerous people who keep thinking won't believe it.

DavidC

Thu, 02/07/2013 - 10:10 | 3222732 Say What Again
Say What Again's picture

"We're not gonna tell you about the details of the MPS issue, because I might lose my job, and anyhow, its none of your business -- Bitch"

"It was *ME* who signed most of the papers of inspection" -- Really? -- No, Really? You Gimp!!!

"You should discount most of what you hear in blogs as 'NOISE' - and should be ignored - Bitchezzz"

Thu, 02/07/2013 - 10:10 | 3222733 DavidC
DavidC's picture

I'm sorry, but how can anyone believe these hubristic fuckwits? I get more angry by the day.

Michael Gove, here in the UK, has been beaten down in his moves to change some of the educational qualifications to a Baccalaureate type qualification. His defeat was described earlier today as him showing strength, on the basis that was able to take on board the feedback and attempt to try another tack. I mean, really, come on.

Pathetic.

DavidC

Thu, 02/07/2013 - 10:12 | 3222736 BrigstockBoy
BrigstockBoy's picture

Draghi is a charlatan and a piece of shit...

Thu, 02/07/2013 - 10:14 | 3222745 jubber
jubber's picture

All shorts just got taken out, why the fuck is the DAX up 70 on that?

Thu, 02/07/2013 - 10:22 | 3222763 Yen Cross
Yen Cross's picture

The eur/usd just tanked from 1.3575 to 1.3450. The serfs don't seem to be buying the " kabuki theatre" at the moment.

Thu, 02/07/2013 - 10:24 | 3222771 Say What Again
Say What Again's picture

Guy from WSJ;

"Does the MSB issue mean that the ECB is not the best governing party for the sovereign banks"

...

...

"We allow the banks to post their (shitty) loans as collateral for funds from the ECB" -- Can you say, "Re-Hypothecation" Bitchezzzz

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