We noted yesterday that if the EUR got much stronger then peripheral Europe was going to lose much of its ‘competitive’ gains and while this is a notable surprise to many, we can’t wait to hear how Draghi explains the decision given the world’s insistence that Europe has turned the corner already… (which it clearly has not).
- *DRAGHI SAYS EURO AREA GROWTH RISKS REMAIN `ON THE DOWNSIDE’
- *DRAGHI SAYS EURO AREA INFLATION RISKS ARE `BROADLY BALANCED’
- *DRAGHI: MARKET CONDITIONS POTENTIALLY NEGATIVE FOR ECONOMY
- *DRAGHI SAYS UNEMPLOYMENT REMAINS HIGH
- *DRAGHI: EURO AREA MAY FACE PROLONGED PERIOD OF LOW INFLATION
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/azGi3V6YEiY/story01.htm Tyler Durden