Thursday, December 15, 2011

ECB: There is No External Savior For a Country That Doesn't Want to Save Itself

The Associate Press reports today on European Central Bank president Mario Draghi saying that there is  "no external savior" for countries in Euripe deep in debt.
He added that governments must take the tough steps to balance budgets and reform economies to promote growth.

"I will never tire of saying that the first response should be from government," "There is no external savior for a country that doesn't want to save itself."

Draghi said that the ECB's bond purchases were "neither eternal nor infinite."

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