At a news conference, Mr. Draghi said he was “surprised” that comments he made last week were interpreted as a signal that the E.C.B. would buy more bonds if political leaders, who are meeting Thursday and Friday in Brussels, delivered tougher rules on budgetary discipline.
Klar, ja? What lies ahead? Most likely, slow or no growth, possibly bank failures, rising unemployment, and heightened political tensions everywhere. Plus growing nationalist animosities and rising power of extreme right-wing parties in several European countries.