Are Eurozone leaders finally getting their act together? Big ‘bazooka’ planned?
Dec 7th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
This is a critical week for the Eurozone and since last Friday, when Mario Draghi, ECB president, spoke of a 'fiscal compact' with a hint that the central bank would respond to moves by political leaders on better governance of fiscal policy among the 17 member countries, there is at least hope that at last, the summit on Thursday and Friday this week may show sustainable progress. With the clock ticking, there is talk of firing a 'bazooka' - - a metaphor used by a former US Treasury secretary at the height of the financial crisis in 2008 to deliver 'shock and awe' to the markets.