Mario Draghi Denies That ECB Bazooka is Empty Amid Fears QE is Turning Toxic
‘The side effects of the QE medicine are getting stronger: the curative effects are getting weaker’, warns UBS chief Axel Weber
by Ambrose Evans-Pritchard
Telegraph.co.uk
The European Central Bank has ample ammunition to fight a fresh global downturn and is ready to act decisively to stave off deflation if necessary, Mario Draghi has assured nervous investors in Davos.
The ECB’s president sought to play down the violent market squall of recent weeks, insisting that Europe’s economic recovery is well on track and may even accelerate as the refugee crisis leads to a surge of fiscal spending.
“We have plenty of instruments. We have the determination, and the willingness of the governing council to act and deploy these instruments,” he said, speaking at the World Economic Forum.
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Source: http://financialsurvivalnetwork.com/2016/01/mario-draghi-denies-that-ecb-bazooka-is-empty-amid-fears-qe-is-turning-toxic/?utm_source=rss&utm_medium=rss&utm_campaign=mario-draghi-denies-that-ecb-bazooka-is-empty-amid-fears-qe-is-turning-toxic
