Must Read

PrintPrint EmailEmail ShareShare CiteCite
Style:MLAAPAChicagoClose

loading...

Financial Times: Mario Draghi’s ‘Whatever It Takes’ May Not Be Enough for the Euro

Author: Gideon Rachman
April 7, 2014

Share

"The eurozone still faces deep underlying economic and political problems that are beyond the control of the president of the ECB and his colleagues."

"Whatever it takes." Mario Draghi's declaration that he would save the euro could well go down as the most effective three-word statement by a Roman since Julius Caesar's veni, vidi, vici.

The European Central Bank president's statement, followed up with a portentous and vaguely threatening – "and believe me it will be enough" – was made in July 2012. Almost two years later, Mr Draghi's intervention is widely regarded as the turning point in the euro crisis. Investors who were running screaming from the eurozone in the summer of 2012 are now rushing back in.

But whatever the thundering herd of investors may think, it is too soon to declare that Mr Draghi has won the war for the euro. The eurozone still faces deep underlying economic and political problems that are beyond the control of the president of the ECB and his colleagues.

Full Text of Document

More on This Topic

Op-Ed

The Right Enemy

Author: Max Boot
Commentary

Max Boot reviews Carlotta Gall's new book The Wrong Enemy about the role Pakistan has played in the war in Afghanistan.

Op-Ed

Afghans Don't Hate America

Author: Max Boot
Wall Street Journal

Max Boot argues that despite the recent protests over the burning of Qurans, Afghans do not want a return of the Taliban--and they don't hate...