2012-07-28wallstreetexaminer.com

``Thursday, European Central Bank President Mario Draghi caved: "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough." Emphasis on believe me--as in "I beg you, please believe me"--because the other part of his pronouncement, within our mandate, is controversial. It's where the ECB had clashed with the German Bundesbank and others who stubbornly clung to the notion that the treaties governing the ECB gave it only one mandate: price stability. Not propping up stock and bond markets.''


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