Aug 3, 2012
ECB Report Disappoints
Written under: Finance
Risk aversion is back in the market as European Central Bank president, Mario Draghi failed to impress investors during his ECB speech earlier today.
Mr. Draghi called for purchases of government bonds to hold down the borrowing costs of troubled euro zone countries like Spain.
However, he said that political leaders should move first, which eventually left open some crucial questions about how quickly and forcefully it would seek to tame unruly financial markets.
Last week, the EUR rallied like citizen watches after Mr. Draghi promised to “do whatever it takes to preserve the euro zone”.