Watch Live: Mario Draghi Explain How He Never Saw An EU Economic Collapse Coming (Again)

A few short months ago - just like Jay Powell at The Fed - everything was awesome: economy was about to reach escape velocity, inflation was picking up, QE was to be phased out and normalization could begin.

And then - the best and the brightest that Europe's economic schools had to offer were horrified to see that their forecasts were completely wrong and the EU economy (core and periphery) began to collapse as fears of a less-than-100%-dovish-ECb would expose the zombified European banking and economic system.

...but, have no fear, Draghi is on it this time, keep rates lower for longer (crushing bank profitability even more), extend more credit to banks who are already seeing borrowing demand collapse (and encumbering more of their assets), and promise that the economy and inflation will pick up any quarter now...

Watch Live: