from The Daily Bell
The euro crisis is not over and is about to get interesting … Supposedly the euro crisis is all over. The mighty ECB has spoken. I have received triumphalist suggestions from bastions of euro-fanaticism that I should now capitulate. ECB bond-buying will cut borrowing costs for ailing eurozone nations but that is not the essence of the euro problem. – Roger Bootle/UK Telegraph
Dominant Social Theme: This time the Eurocrats will get it right. Central bank bond-buying is the magic bullet!
Free-Market Analysis: Is central bank bond-buying the key that unlocks the Euro-crisis and provides a solution? Well …
We still remember the triumphant announcement several years ago that Germany’s Angela Merkel and France’s Nicolas Sarkozy had saved the European Union by coming up with a fund that would provide enough cash to impress upon the bond market that Europe was solvent.