Mr Draghi delivers
The Irish Times – Friday, September 7, 2012
IN LATE July Mario Draghi, president of the European Central Bank (ECB) promised the bank would do â€śwhatever it takesâ€ť to ensure the euroâ€™s survival. His reassuring words helped to ensure that August passed without financial markets suffering a panic attack during the holiday season.
Yesterday, Mr Draghi was required to deliver: to add substance to his promise, and to outline the actual steps the ECB would take to prevent a collapse of the euro zone. He did not disappoint the public or, for now, the markets. Yesterday the euro rallied strongly after the ECB meeting….”