whatever it takes

draghi black

Five Years On Of The Words That Saved The Euro

One of the most famous sentences in the history of the Eurozone turns five years today: “Within our mandate the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough”. ECB’s chairman Mario Draghi words will be reminded for long as a balm to the euro crisis of 2012, but what real effect this discourse has had?