It’s all about Europe. With earnings season largely over and the United States distracted by the upcoming presidential election, the only news likely to move the markets during the next month will be coming out of Europe.
Late this week, the European Central Bank will issue a press release that many market watchers hope will shed a little light on ECB President Mario Draghi’s long-delayed bond purchase program. And less than a week later, Germany’s constitutional court is scheduled to deliver a ruling that could single-handedly torpedo the entire European project.
Like it or not, the fate of the world economy depends on a ragtag collection of technocrats, politicians and wonkish legal experts. As heroes go, they are not quite on par with the Avengers or the Super Friends, but they are (unfortunately) all we have.
Let’s take a look at the five biggest players and the roles they have to play in the weeks ahead: