from Regal Assets
European Central Bank President Mario Draghi dimmed hopes that the central bank would take action in troubled euro-zone debt markets. This could will a global selloff. After a week of saying that they would do “whatever it takes” to save the euro, Mr. Draghi, softened his tone. Many believe that pressure from Germany had a lot to do with Mr. Draghi’s backtracking. The new ECB statement is that they would only deploy the full force of its arsenal after the regions government used their own funds to stabilize the markets. It goes to show that when it comes to stimulus plans it can be very difficult to come to an agreement on. In this case the ECB has to work on pleasing its bigger share holders such as Germany and France while being able to help the countries in trouble.