Thursday 6 September 2012

"If I look behind, I am lost"

This sentence, often repeated by Daenerys Targaryen (the character from "Game of thrones"), is probably the perfect depiction of ECB's recent announcement that it will be buying euro country's sovereign debt in the market, in order to keep interest rates under control. Though the benefits are clear (it will also allow tighter control over who owns that debt), it escalates the risk of impact in Europe if things go wrong. But, what short term alternative is there, if the efforts for political and economical consolidation in the Eurozone have been so slow?

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