Craig Eisele on …..

March 3, 2012

European Central Bank (ECB) Making Things Worse for EU??

Filed under: Uncategorized — Mr. Craig @ 6:37 pm

The ECB’s second dollop of easy money has comforted markets. But the euro crisis has not gone away. It would not take that much for it to turn acute again.

Most markets are indeed comforted, but not all. If the crisis is to turn acute again, we might expect the flare-up to begin here:

 

On a day when Mario Draghi is supposedly shoving a meltdown ever farther from the realm of possibility, markets are souring on Portuguese debt in a big way. Perhaps the long-term refinancing operations aren’t a cure-all after all. Given the onset of euro-zone wide deflation in January, Mr Draghi should soon find himself the target of serious, and deserved, criticism.

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