Saturday, August 4, 2012

Varoufakis on Draghi

Yanis Varoufakis:
Then came the moment to put up or forever lose his credibility. Alas, probably under incredible pressure from the Bundesbank, he opted for the latter. Citizens and investors felt a wave of desperation hit them and all the gains from the grand declarations fizzled out. Since then, some analysts went back to what Mr Draghi said during the Thursday press conference and read between the lines some evidence of actions-to-come that may offer relief to the struggling Eurozone. They are clutching at straws, I am very much afraid.
And for a roundup of opinion on the Draghi moves (or non-moves), see Brad Plumer.

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