An article in Bloomberg today argues that Mario Draghi’s backstop of EU member state debt is actually fomenting the Catalan Independence movement.
By Fernando Betancor.
As President of the powerful European Central Bank, Mr. Draghi has promised to “do whatever it takes” to save the Euro, emphasizing: “and believe me, it will be enough.” Through the threat (or promise) of Open Market Transactions, in which the ECB could directly intervene in bond markets to buy an unlimited amount of sovereign debt, Mr. Draghi has soothed the jangled nerves of bond investors and actually avoided the necessity of using this option; an option which is of questioned legality within the ECB’s mandate.
WE DO RECOMMEND TO READ THE FULL ARTICLE HERE: http://www.fdbetancor.com/2014/05/30/is-mario-draghi-catalonias-best-friend
Americans For Catalonia 