First published: Global the International Briefing, first quarter 2013
During another acute phase of market turbulence in the eurozone in late June 2012, Mario Draghi, president of the European Central Bank (ECB),promised that he would do whatever it took to save the euro. Since then, and especially after the ECB’s announcement of a new sovereign bond purchase initiative – called Outright Monetary Transactions – in early September, the sense of crisis in European financial markets has evaporated……more
