European Central Bank comes to the rescue – for now

The European Central Bank will now become the de facto private bank for Europe in Mario Draghi’s latest attempt to stem the financial crisis. The agreement would rerquire nations to apply for loans with “hard reforms” a condition of financial assistance.

The Washington Post editorial board weighed in in favor of Draghi’s action.

All of the gains in the market on Thursday, however, will be won or lost with the release of new unemployment numbers on Friday morning – and everyone will be looking for something positive in the figures.

Quick Hits

Ed Puzzouli sees regulatory reform as the key to increasing job growth.

Democratic National Convention reverses course in its platform on Israel, returns language defining Jerusalem as capital of Israel.

Michael Milken calls for more investment in science to reap real benefits.

Fears continue to rise that Sudan is on path back toward its (recent) bloody past as talks break down.

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