Martin, believe it or not the bad news makes Mr. Market think that the ECB will roll out a massive $1 trillion QE program on the 22nd and so bad news becomes good news!
Honest. It's macabre.
If Draghi wants to flatten an almost freefall euro all he has to do is get ALL ECB board members to vote to stimulate. Germany believes it's unconstitutional and may take the matter to the German High Court.
Nineteen economies, governments all looking after number one, and that's not the EZ.
