Below is a link to our latest article, published as regular contributors to GurusBlog, in which we analyse the implications of Draghi’s announcement, looking beyond the official and politically correct comments.
«First and foremost, it is only fair to say that the announcement of unlimited purchases of distressed debt (UNWTO) by the ECB on the secondary market, whilst the ESM It is being implemented at primary level; it is the most decisive, consensual and coordinated measure put into practice to date.
Whether it is because the measures taken to date have been cowardly and futile, or because this time the person taking them is not a politician fearful of the ballot box but a financial technocrat who has been weaned on Goldman Sachs, such as the President of the ECB. The point is that we are facing the most far-reaching decision in years – which, admittedly, is not saying much. But let’s look a little beyond the newspaper headlines and the politically correct arguments.» Read the full article.