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The ECB drifts away from the euro summit package

MADRID | The European Central Bank has entrenched itself in its own territory, delivering a conventional rate cut to address a downsize risk in economic perspectives. Output hovering around zero growth in Europe will drive inflation below targets, thus triggering the need to introduce some potential stimulus. But Draghi watered down Thursday’s rate decision, warning on the limited scope of lower rates when financial markets are so fragmented, risk perception…


This summit won’t force the ECB to intervene, the markets will

MADRID | Summits are meant to be the meeting place for those dwelling in the Olympus. Those struggling to survive on the Earth surface have more urgent concerns than discussing about the euro zone destiny, an angels'-gender dispute that fails soothing their daily toils. Spain undoubtedly ranks among the latter. It will attend today’s meeting with its mind focused on the bleak aftermath. Banking union might stand as a cornerstone…