Euro slides as Draghi extends stimulus
Samuel Gee, News Editor
9 Dec 2016, 11:41 a.m.
The euro fell this morning after the head of the European Central Bank, Mario Draghi, pledged to prolong fiscal stimulus to the Eurozone. Despite being due to expire in March 2017, Draghi announced yesterday that he would extend the ongoing quantitative easing programme, albeit at a reduced rate of 60 billion euros per month.
The ongoing attempt to stimulate growth in the European economy appears to be bearing little fruit and the decision to continue QE is indicative of a leadership out of ideas.
Only time will tell if it is at all possible to save the European economy through printing more cash, but in the current situation it seems as though Draghi’s only goal is to delay the inevitable for as long as possible.