The 5 Most Important People in the Euro Crisis

Who matters, and what roles they'll play in the weeks ahead

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The 5 Most Important People in the Euro Crisis

#1: Mario Draghi, European Central Bank President

Draghi The 5 Most Important People in the Euro CrisisThe man who claimed he would “do whatever it takes” to save the euro and stated with rhetorical flourish, “believe me, it will be enough,” is the single-most important person right now in the eurozone crisis. As the guardian of the ECB’s proverbial printing press, he’s the only person with a big enough “bazooka” to blast confidence back into the market.

The buoyancy in global equity and bond markets during the past two months is largely a bet that Draghi will deliver on his promise. You can bet that every sentence in his Thursday press conference will be picked apart with a fine-tooth comb for clues as to his plans.

The growing consensus, based on comments by Draghi and others, is that the ECB will buy virtually unlimited amounts of troubled-country bonds in the secondary markets once the countries in question formally request aid from the eurozone bailout funds and submit to any conditions for reform or budget austerity (even if some of the conditions are symbolic).


Article printed from InvestorPlace Media, http://investorplace.com/2012/09/the-5-most-important-people-in-the-euro-crisis/.

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