he Markets Call “BS” on Draghi’s Promise
In 2012, ECB President Mario Draghi, pulled the EU back from the brink of collapse by promising to do “whatever it takes” in the summer of 2012.
Since making that promise, the two biggest problem countries for the EU, Spain and Italy, have both seen the yields on their bonds fall.
Draghi’s promise also lit a fire under EU stocks, with Spanish, Italian, and German markets roaring higher.