Political Union must precede economic union, justly and democratically created, not enforced by fiat from Brussels.

Printing fiat Euros won’t solve Europe’s malignant problems.-J.B. Schuettler

ECB President Draghi Reaches for the Bazooka

By Stefan Kaiser in Frankfurt

AFP

A sculpture of the euro symbol stands in front of the European Central Bank headquarters in Frankfurt: The ECB is pulling out the bazooka to save the common currency.

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European Central Bank President Mario Draghi has taken a bold step this week to contain the euro crisis. The ECB is now planning unlimited bond purchases in order to prevent an escalation of the euro’s woes. The step marks a fundamental shift in efforts to save the common currency — and comes with plenty of risks.

No Limits

ECB President Draghi Reaches for the Bazooka

European Central Bank President Mario Draghi has taken a bold step this week to contain the euro crisis. The ECB is now planning unlimited bond purchases in order to prevent an escalation of the euro’s woes. The step marks a fundamental shift in efforts to save the common currency — and comes with plenty of risks.