Draghi’s comments were indecipherable nonsense of the kind one would expect from a cunning politician who wants to pretend he wants to help Europe and its sorry excuse for a currency but continues to want to avoid doing anything.
Dr Alf is right to be worried about the Euro because speculators will see that absolutely nothing is being done.
Europe is 6 trillion Euros short of where it needs to be but does nothing to :
–Reduce the size of European Governments
–Reduce aid to undeserving recipient nations
–Reduce waste, fraud and criminality in the EU budget and procurement processes
Draghi is like a latter day Nero, fiddling while Rome burns, and the rest of the European leaders are in denial or in the case of Angela Merkel, heavily focused on her legacy and immediate German problems.
To borrow from Lord Saatchi, “Europe isn’t working” and Southern Europe faces wrestling a world where “the pain is coming down”.