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FTG Blog - Draghi Pledged 'Whatever It Takes.' It Took 1.2 Trillion Euros

Draghi Pledged ‘Whatever It Takes.’ It Took 1.2 Trillion Euros

So how much did it end up taking after European Central Bank President Mario Draghi memorably said five years ago he’d do “whatever it takes” to save the euro? Read more

FTG Blog - It's Five Years Since Draghi's 'Whatever It Takes'

It’s Five Years Since Draghi’s ‘Whatever It Takes’

Five years ago today, Mario Draghi was talking about bumblebees. The European Central Bank president’s speech in London on July 26, 2012, became instantly famous because of his pledge to do “whatever it takes” to save the euro. But for all the power and clarity of that phrase, he started his remarks more obliquely. Read more

FTG Blog - Draghi Can’t Stop Eastern Europe Bond Rally

Draghi Can’t Stop Eastern Europe Bond Rally

Not even Mario Draghi can stop the comeback this year in eastern European bond markets. Local-currency bonds from Poland to Hungary have advanced this month in the face of growing concern the European Central Bank is on the cusp of reducing its unprecedented stimulus. The rally extends a 6.7 percent return for the region’s debt in the second quarter, the best in emerging markets. Read more

FTG Blog - Draghi Worries About U.S. Protectionism as Euro Area Strengthens

Draghi Worries About U.S. Protectionism as Euro Area Strengthens

Mario Draghi has become the latest European policy maker to tell the U.S. that it might be heading down the wrong path on trade. The European Central Bank president used an appearance on Monday to tout the euro area’s four-year recovery and say that the key risks are now from external factors. Then he turned his attention to the rhetoric coming from across the Atlantic. Read more

FTG Blog - Six Years After ECB Disaster Draghi Plots a Middle Ground

Six Years After ECB Disaster Draghi Plots a Middle Ground

As Mario Draghi faces increasing pressure to map out a path toward the end of European Central Bank stimulus, he might want to respond with a history lesson. For weeks in the run-up to Thursday’s Governing Council meeting, ECB officials have been publicly debating when they might start to wind down their asset purchases and raise interest rates. Yet the institution’s president is determined not to repeat an error made six years ago this month, when his predecessor Jean-Claude Trichet started tightening policy only to see the region slide back into recession.

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FTG Blog - Euro Declines as Draghi Sees No Need for ECB to Change Course

Euro Declines as Draghi Sees No Need for ECB to Change Course

The euro dropped to the lowest since mid-March as dovish remarks from Mario Draghi and option hedging before the French elections weighed on the currency. The shared currency slid as the European Central Bank president said that a pick-up in inflation across the euro area isn’t yet strong enough and that “a reassessment of the current monetary policy stance is not warranted at this stage.” These comments, which push back against recent speculation about ECB tightening and calls from German banks to scale back bond purchases, led to fresh selling interest by interbank and leveraged accounts.

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