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Mario Draghi

Central Bankers Making New Moves To Spur Global Economy

Reuters | Posted 04.05.2013 | Business

* Draghi, Carney to hog spotlight * ECB, BOE firmly on hold but unease stir over euro strength * Trade data eyed for sig...

Europe Has Nothing to Fear But Fear Itself

Prof. Klaus Schwab | Posted 02.12.2013 | Business
Prof. Klaus Schwab

The eurozone will not break up. The price of departure is simply too great for any one country. Indeed, when Mario Draghi announced on 6 September that the European Central Bank would undertake unlimited purchases of government bonds, the continent crossed the bridge to its future.

Mr. Draghi's Dangerous Confidence Game

Laurence J. Kotlikoff | Posted 01.08.2013 | Money
Laurence J. Kotlikoff

European Central Bank (ECB) Chairman Draghi has a very big agenda. Armed with only a printing press, he's pledging to directly bail out the GIIPS (Greece, Italy, Ireland, Portugal and Spain) and indirectly bail out their economies.

Europe's Latest Gimmick

Robert Kuttner | Posted 11.09.2012 | World
Robert Kuttner

The EU is now officially back in recession. Unemployment is rising in all of the nations that have submitted to austerity plans. Even the Germans, who benefit from the rest of Europe's pain because capital flight produces very low German interest rates, are headed for a recession later this year, according to the OECD. Europe's economies are prisoners of Merkel's austerity demands on one side, and the speculative attacks of the bond market on the other. In principle, the ECB could extend unlimited support to government bonds, and take the profit out of speculation. Draghi's latest announcement seems to offer just that, but the austerity conditions render it next to useless.

Politics and Draghi Speaks

Michael Farr | Posted 09.07.2012 | Business
Michael Farr

The silly season of politics is fully underway. Though it is not our habit to predict political outcomes, we are going on record with our belief that...

Europe Once Again Needs Rescue

The Huffington Post | Mark Gongloff | Posted 09.06.2012 | Business

Thing One: Draghi's Big Day: Most of the time, watching Europe try to deal with its endless debt crisis feels like nothing more than a kinda-sad, kind...

ECB Struggling To Do 'Whatever It Takes' To Save Euro

Reuters | Posted 11.04.2012 | Business

* Monti, Hollande call for action to cut excess borrowing costs * ECB rate decision, news conference on Sept. 6 * Marke...

Will Actions Follow Words in Europe?

Mohamed A. El-Erian | Posted 10.23.2012 | Business
Mohamed A. El-Erian

Thank you Germany, Italy, Spain and, especially, the European Central Bank. They all said enough to provide markets and investors with a tranquil August so far. Will they now be able and willing to pivot from reassuring words to the series of actions required to enable this tranquility to grow deep roots?

Mario Draghi Covers The Rolling Stones' Greatest Hit

Terry Connelly | Posted 10.09.2012 | Business
Terry Connelly

American observers need to get used to how the Eurozone countries negotiate with each other -- with such a loose and ill-structured currency union, they have to use the only tools at their disposal.

Don't Blame Bernanke

Robert Kuttner | Posted 10.05.2012 | Politics
Robert Kuttner

If you watched any of the PBS encore broadcast of the Ken Burns documentary, The War, this past week, you have some sense of what kind of a production machine can be energized by government contracts in the face of a depressed economy. There is so much that we could spend that money on -- energy self sufficiency, infrastructure, a smart electrical grid, public transportation, better education at all levels -- all of which would not only create economic activity and jobs, but would make for a more productive economy. But nothing like this is part of the mainstream conversation. If you propose this sort of thing, you are packed off to the Museum of Un-reconstructed Keynesians. White House economists quietly admit that you are right, but you are politically radioactive (even with a Nobel Prize.)

Did Draghi Say What Investors Heard?

Raymond Ressy | Posted 10.03.2012 | Business
Raymond Ressy

Regardless of whether Draghi's recent statements were a statement of the obvious, investors seized upon the words as a way to try to force the ECB to take action.

Why the European Central Bank Could Only Disappoint the Markets

Georges Ugeux | Posted 10.02.2012 | Business
Georges Ugeux

Today, the ECB announced that, as speculated by the markets, it would purchase bonds of Italy and Spain, in order to reduce financing costs. Yet, the markets were disappointed. There are three reasons why this disappointment was almost predictable.

Bill Gross: Bank Is Playing 'Kick The Can' With The Euro Debt Crisis

The Huffington Post | Alexander Eichler | Posted 08.02.2012 | Business

Bill Gross isn't mad at Mario Draghi -- he's just disappointed. Gross, co-founder of the investment firm PIMCO, said that he wasn't all that impres...

ECB To Global Economy: Drop Dead

Mark Gongloff | Posted 10.02.2012 | Business
Mark Gongloff

Another day, another central bank failure.

Geithner: Congress Can 'Make Growth Stronger' In 'Near Term'

Reuters | Posted 09.30.2012 | Business

* EU leaders committed, have the means to resolve crisis - Geithner * U.S Congress must also do more to boost growth - Geithner ...

The Euro Gets a New "Transmission" From Super Mario

Terry Connelly | Posted 09.30.2012 | World
Terry Connelly

In their view, the ECB has no treaty-based mandate to print money or undertake "quantitative easing" in this way. If that is the case, however, then the euro is a suicide pact, powerless to defend itself against its own demise.

A Tale of Two Central Bankers

Robert Kuttner | Posted 07.30.2012 | Politics
Robert Kuttner

You can be confident that markets will slump again and Spanish and Italian borrowing costs will rise again as soon as investors realize that Draghi, despite his best intentions, can't quite deliver. His bank's board is due to meet Thursday, and the Germans remain adamantly opposed to allowing Draghi to get serious about bond purchases. Draghi, like Bernanke, keeps warning that central bankers can't fix the economic mess by themselves. Europe needs to reverse its austerity policies, to take shared responsibility for dealing with the legacy debt of its weaker members, and to turn the ECB into a true central bank. None of this is likely to happen.

'The ECB Is Ready To Do Whatever It Takes To Preserve The Euro'

Reuters | Posted 09.25.2012 | Business

LONDON, July 26 (Reuters) - European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone f...

Eurozone Leaders Considering Closer Integration

Reuters | Posted 08.24.2012 | Business

* European leaders set to discuss banking union * Document details four "pillars" of economic union * Leaders say need t...

Why Europe's "Technocrati" Can't Do it All

Chris Brummer | Posted 08.06.2012 | Business
Chris Brummer

Inconvenient truths point to the fact that spurring on the technocrats may help, but eventually the politics of Europe itself have to change.

Ms. Merkel Builds Her Dream House

Michael Brenner | Posted 05.26.2012 | World
Michael Brenner

It looked as if impending bankruptcy could topple banks and undercut the financial foundations of one country after another -- putting in peril the entire Euro-zone. That dire outcome has been postponed by a flurry of expedient actions.

Is the European Central Bank Playing With Fire?

Georges Ugeux | Posted 04.13.2012 | Business
Georges Ugeux

Never in the history has so much money been poured in the direction of banks, most of which don't need it. It is becoming clear that European banks will use it, not to boost the economy, but to manage their balance sheet.

Bonnie Kavoussi

Hitler's Legacy: How Germany's Past Weighs Down Europe's Future | Bonnie Kavoussi | Posted 01.03.2012 | Business

In the wake of the financial crisis, the Federal Reserve took drastic measures to shore up the U.S. financial system. Now as Europe enters its worst e...

Bonnie Kavoussi

Crunch Time: Bank Downgrade, Credit Squeeze Signal Possible Return To 2008 | Bonnie Kavoussi | Posted 12.15.2011 | Business

The situation in Europe is hitting global credit markets, making it harder for companies and banks to secure loans. Investors are buying fewer corpora...

Optimism for the Euro and Europe: The Win-Win Situation

Vivian Norris | Posted 02.11.2012 | Business
Vivian Norris

The United States, and in fact, the rest of the world, especially the fear-driven crisis-mongering media and markets, could learn a few things by slowing down, realizing it takes time to build healthy economies, especially such a new one as the European Union.