On Thursday , the European Central Bank is likely to farewell its long-serving president, "Super Mario" Draghi, with a cut to its policy rate, moving it deeper into negative territory, and perhaps the resumption of unconventional monetary policies.
The query over whether the ECB will revive its QE program relates to significant division within the central bank. The "hawks" in Germany, Austria, the Netherlands and even France argue that it would be premature and could have unintended consequences for the eurozone financial system.
Particularly threatening would be the impact on the European auto industry, especially Germany’s, but, with one of the US demands the opening up of the eurozone’s politically-sensitive agricultural markets, the prospect of another front in the trade war is very real. When Draghi signalled in July that it might be necessary to revisit unconventional policy measures Trump was apoplectic.Even though it is obvious that the eurozone economies are weak and weakening, whereas the US economy has been relatively strong, Trump sees ECB stimulus as purely a mechanism for weakening the euro and "making it unfairly easier for them to compete against the USA."
The fool did nothing but print money. That’s his legacy. My six year old can press print. Just another fraud who is leaving with Europe in the worst shape it’s ever been.