The Traderszone Network

Published in TZ Latest News 15 February, 2016 by The TZ Newswire Staff

EUR Tumbles As Draghi Admits ECB Will "Buy" Busted Bank Loans

EURUSD is down over 120 pips this morning and accelerating as Mario Draghi drops all kinds of tapebombs in his Q&A with his Brussels overlords. Most crucially, slamming EURUSD 70 pips and breaking Wednesday lows, was his admission that while The ECB would “not buy” non-performing Italian bank loans, it would (confirmed by Italy’s Treasury) allow the busted deals as repo collateral (how close to par?) allowing Italian banks to kick the can just a little further.

 

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