ECB President Mario Draghi's last move towards more QE is no more than stupidity on steroids, even words like misdirected and boneheaded do it a disservice. This is more proof that the Euro-zone is in big trouble, both the union and the flawed currency is again begging to crumble.
One is forced to wonder if Japan and the Yen will crash first considering how each day Japan slides closer to the economic abyss or whether the Euro will lead the way into the wastebasket. Draghi has helped the countries of Europe kick the can down the road but this only delays the failure on the Euro. More on how the Euro-zone has failed to make any real reforms in the article below....Tension about the way the EU has dealt with the debt crisis could erupt this month when voters from the 28 nations elect members of the European Parliament for the first time since Greece nearly brought the euro currency bloc to its knees. The required bailout unleashed a wave of German-led austerity demands that continue to rile several of the more indebted nations. A moderate deceleration in growth and world trade coupled with geopolitical risks over Ukraine and tensions with Russian have not been the foundation needed to propel the Euro-zone forward. As of today it is easy to say many issues remain unresolved....The European Commission recently said they expect the 18-nation euro-zone would grow by 1.2% this year and 1.8% next year. In both cases, the figure was 0.1 percentage points higher than in earlier predictions. The wider 28-nation EU's prospects have been revised up by the same amount, to 1.5% in 2014 and 2% in 2015. "Recovery is gaining ground," said Olli Rehn, commissioner for economic and monetary affairs. "The worst of the crisis may now be behind us." However, he also warned that the recovery was "still modest".
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