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MarkGB 

"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

'We don't obey politicians, we obey the law' says Mario Draghi

In response to an FT View on 21st April 2016, entitled 'Draghi goes on the offensive against bullying by Berlin' 

http://www.ft.com/cms/s/0/8abd02d2-07b2-11e6-a623-b84d06a39ec2.html#ixzz46YERmeCO

"The central bank obeys the law, not politicians, he stressed, and its governing council is unanimous in defending its current stance and its independence. It was absurd to portray ECB policy as the product of an Italian president: similar measures have been adopted across the developed world"

Of course the ECB obeys the 'law', except for the times it ignores the law until it can get it changed, slithering through loopholes in the meantime.

But I agree it is totally absurd to portray ECB policy as the product of an 'Italian' president. Clearly ECB policy is the product of a Goldman Sachs president, and of course, 'similar measures have been adopted across the developed world'.

Debt matters - now join the dots

Mario Draghi's policy will not do what it says on the tin