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Tuesday, August 26, 2014

The European Quagmire

Unsurprisingly, the eurozone is stuck in both an economic and political malaise; as Germany published weaker than expected economic figures, and France's political system falls apart.

Thus the media is doing its best to pump up the markets, by pushing the tired old line that the ECB will do something radical (eg cut interest rates and go for QE).

This is of course hyperbole, as the ECB (in the shape of Mario Draghi) is incapable of doing anything radical. Instead the eurozone will sink ever further into the quagmire of its own economic and political structural failings.

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