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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Terse Warning for Euro States: Do Something Now
http://www.cnbc.com/id/47642132Mario Draghi, the European Central Bank president who pulled the Continent back from the financial brink late last year, is facing an even more daunting challenge as the debt crisis in Spain deepens. But this time, he may have a harder time fashioning a rescue plan that will work.
In a warning to political leaders, Mr. Draghi told members of the European Parliament on Thursday that the central bank is reaching the limits of its powers and now it is up to politicians to move quickly and decisively because the survival of the euro [EUR=X 1.2377 0.0018 (+0.15%) ], the Continents common currency, is at stake. The structure of the currency union, he said, had become unsustainable unless further steps are undertaken.
It seems Spain banks are having a run on them now and Spain is a whole different situation than Greece
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A Terse Warning for Euro States: Do Something Now (Original Post)
lovuian
Jun 2012
OP
Lionessa
(3,894 posts)1. Well, Mario, STFU and let things take their course for a while, you are being
credited in this article as having pulled the zone back from the brink, but apparently you didn't actually do anything but make things worse in the long run. So I repeat.....STFU!
lovuian
(19,362 posts)2. I have to say things are extremely screwed up
http://www.cnbc.com/id/47628905
Europe is travelling dangerously close to another dimension, and the next stop could be the "intervention zone," analysts and market participants have warned.
Peripheral euro zone countries' bond prices continued to get hammered as the focus of the market has moved to Spain the regions fourth largest economy, which is increasingly viewed as too big to bail. On the other hand, European stocks have fallen but not plummeted to the lows of earlier crises, a sign that the market is holding out hope for further intervention.
last seen the Dow was down 200 points
Europe is travelling dangerously close to another dimension, and the next stop could be the "intervention zone," analysts and market participants have warned.
Peripheral euro zone countries' bond prices continued to get hammered as the focus of the market has moved to Spain the regions fourth largest economy, which is increasingly viewed as too big to bail. On the other hand, European stocks have fallen but not plummeted to the lows of earlier crises, a sign that the market is holding out hope for further intervention.
last seen the Dow was down 200 points
lovuian
(19,362 posts)3. oh one more thing the Drachma
I heard the rumor on wallstreet that the Drachma showed up on the currency board this morning
They are getting prepared for the results of the Greek election