Spending money wont save the EU. If you want to save the EU then try creating wealth rather than destroying it through taxes, regulations and stupidities like green energy scams. Do you morons seriously think that you can power an advanced economy with windmills! By creating wealth and encouraging business and investment you can create employment rather than unemployment. The EU has been destroying wealth and discouraging business and investment for decades (Exhibit A - France, Exhibit B - all the others), and still the idiots learn nothing, they refuse to change.
How did this guy ever win the title 'Super Mario' when he doesn't understand the fundamentals of economics?
"Mr Draghi suggested that countries in Europe should be encouraged to increase spending within the existing rules designed to reduce deficits and rein in debt in order to boost economic reform and create more jobs"
Please correct me if I am mistaken , but this statement seems like double speak or BS nonsense.
On the one hand 'the existing rules' says no spending past 3% (the fiscal compact) and then he says they should be 'encouraged to 'increase spending' !!
WTF, France et al are already way past 3% . So what on earth is he talking about?
Spending can't be increased.
He makes no mention of reducing the welfare budget for example, (unless that means " national structural policies") ,so I can only assume he is just 'talking the talk!'
His LTRO and the newer version of offering cheap loans do not seem to working.
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The French economy will tank, and we will conceivably see Marie Lepenn in office as the French President. France will renege on its sovereign obligation, surrender the Euro, and restore the French Frank cash. Germany could likewise utilizing the Deutsche Mark cash close by the Euro, as the Euro is gradually eliminated.
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