Draghi: Central bank can help debt problem; markets cheer


This USA Today story, Draghi: Central bank can help debt problem; markets cheer, quotes the head of the European Central Bank:

Draghi said the “ECB will do whatever it takes to preserve the euro,” apparently providing the assurance markets needed to rally.

The article also presents this explanation:

Marc Ostwald, an analyst at Monument Securities, welcomed Draghi’s comments that high borrowing rates could hurt the bank’s efforts to control inflation.

I say that if experts need to talk nonsense to justify the correct actions, then let them spout on.

If the ECB’s mandate were restated to one of preventing flation of any kind, de or in, then they would not have to turn language on its head to justifying doing what they need to do.

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