The irony for the EU, which even its leaders now recognise must change course radically, is that it can’t. At least it can’t in its present structure without such dislocating changes as to be scarcely credible. The central problem has been, and remains, the single currency. As long as countries, particularly on the southern periphery, […]
Posts Tagged ‘Mario Draghi’
European Central Bank defeats Germany, but can’t save euro
Sep 8th, 2012 by Michael Meacher.Draghi has finally won his battle with the Bundesbank to prevent the likes of Italy and Spain being bankrupted or driven out of the euro by winning the power at yesterday’s ECB meeting to buy up their bonds in unlimited amounts. That’s what the markets have been waiting for for ages. But there is a […]
