by Graham Summers, Gold Seek:
Mario Draghi once again surfaced this morning to promise to do “whatever it takes” to help the Eurozone. Draghi has done this anytime the EU markets drop ever since the bottom in the summer of 2012. It’s amazing to watch, particularly when you consider that it is now public information that Draghi actually didn’t have a plan when he first claimed this and is effectively making up policy on the fly. Here are Draghi’s comments from this morning:
*DRAGHI SAYS ECB WILL DO WHATEVER IT TAKES, WITHIN ITS MANDATE
*DRAGHI SAYS EXPANDED PURCHASE PROGRAM COULD INCLUDE GOVT BONDS
Note, that the first statement contains the qualifier “within its mandate.” Of course traders and investors won’t bother to consider that the ECB’s mandate DOESN’T ALLOW IT TO BUY SOVEREIGN BONDS.
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