With the ECB's rate cut decision already wreaking havoc on logic and common sense everywhere, pushing the EUR much higher, and the USd and JPY lower, one can't wait just what non-standard measures Mario Draghi will come up with next to send the EUR to record highs, providing a boon to German IMports. Wait, but the GDP calculation said that net imports are... oh, nevermind. Perhaps Not so super Mario will announce a free Forex trading account for every unemployed European, with half functionality allowing only purchases of EUR, not sales. Look for that, and for further confirmation from the former Goldmanite that the bailout mechanism at the heart of Europe's "sustainability", the OMT, still does not exist and never will, as it is simply impossible to actually agree on a legal term sheet which will govern it.
- *DRAGHI: WEAK LOAN DEMAND REFLECTS STATE OF ECONOMY, CREDIT RISK
- *DRAGHI: CREDIT CONDITIONS FOR SMALL, MEDIUM-SIZED FIRMS TIGHT
- *DRAGHI SAYS ESSENTIAL TO REDUCE FRAGMENTATION FOR TRANSMISSION
- *DRAGHI: ESSENTIAL TO IMPROVE BANKS' RESILIENCE FOR TRANSMISSION
