Barron: “The situation in Europe is deteriorating. German economic numbers were released earlier this week and it really is getting scary in Europe as Germany plunges into recession. In fact, the numbers were so bad that traders took note and the DAX headed lower before recovering a bit. And things are obviously much worse in countries like Spain, Portugal, Italy, and Greece….
“Even though there has been a lot of money thrown at the Mediterranean countries, their economies are just not recovering. These countries appear to actually be headed right back into the abyss economically.
So what does this mean? Well, Draghi has said that he will do “whatever it takes” to improve the situation. But “whatever it takes” seams to be mostly just jawboning. There is nothing of substance behind the jawboning other than artificially low sovereign debt interest rates.
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