Saturday, June 16, 2012

Tim Duy — ECB Ready to Play?

What we really need is a European Central Bank that can manage exchange rate and inflation risk while also addressing default risk. Without such a fully functional central bank, Europe will at best limp along under constant economic distress. Ultimately, Draghi will need to create such a central bank before the fiscal plumbing is in place if he wants to hold the Eurozone together. Which is why he will always blink first.

Or at least I hope he will.
Read it at Tim Duy's Fed Watch
ECB Ready to Play?
by Tim Duy

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