Draghi Said Yes But Not To Do Whatever It Takes To Save The Euro

The ECB said that the ECB would buy Italian and Spanish bonds on the open market only after Euro Zone governments have activated bailout funds to do the same. As far as the market is concerned, Euro Zone countries are not willing to increase the bail out fund.

It is becoming a routine that Euro Zone governments and the ECB mislead the markets offering reassurance that countries will not need bail out or that, they will do whatever it takes to save the Euro.

Prior to the ECB meeting markets were cautious, but thing where looking good, at least the idea of light at the end of the tunnel previously sold by Italian prime minister gave a glimpse of hope. Apparently the electricity in the tunnel is suffering from power shortage as the Euro governments increase they austerity measures.

What is next? Not body knows. After another disappointment from the lack of immediate action needed, traders can just hope for the worse.

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