Mario Draghi lifted the euro last week, only to crush it now. While he did discuss buying bonds in the open markets, he limited such a move to conditions and committees. The market wanted action, not words, and didn’t buy this verbal intervention.
The verbal intervention seemed disastrous by itself: Saying that the ECB would buy short term bonds sent long term bonds to the sky. Should markets have listened more carefully to his words last week? Or did he expect too much of other factors?
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/draghi-didnt-deliver-overestimated-spain-and-underestimated-germany/"]Draghi Didn’t Deliver – Overestimated Spain and Underestimated Germany[/URL][/I][/B]
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