Tuesday, February 28, 2012

Draghi Answers the Call

The other day the ECB ended its bond-buying program, and I was bearish on the future of the eurozone economy in light of it. But I am more than pleased to see this today:


Mario Draghi has committed the ECB to another round of aggressive bond-buying, or "quantitative easing." This is highly expansionary policy at work, and I could not be more pleased.

It seems the ECB may have a chairman who is committed to stabilizing Europes economy and understands the critical role monetary policy has to play in the soverign debt crisis of the periphery. Well done Draghi, and keep up the good work.

I've been saving this picture for a special occassion. This certainly qualifies.

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