Saturday, 19 January 2013

Markets Buy Mario Draghi’s Future Uncritically

When European Central Bank President Mario Draghi strode into his Frankfurt press conference on January 10, he had a vision to sell.

In Super Mario World, the euro zone's existential crisis is over, and any chance of a member state leaving so vanishingly remote as to be unworthy of remark. Challenges remain, of course. Don't expect much growth, or a fast track to fiscal balance across the bloc, but the national governments are on the case as well as the ECB.

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