Saturday, December 10, 2016

#ECB Extends and Tapers While Germany Recognizes Futility

News
While Draghi extended it's bond buying, a program designed support the failing European economy, he announced a subtle reduction or tapering after April. Draghi contends inflation is coming. Selling of the Euro after the announcement suggests dwindling confidence that central planning is doing anything more than delaying the inevitable collapse.

Bundesbank President Jens Weidmann did not support the ECB's decision. Clearly Germany anticipates the coming collapse of the Euro but will not comment on it directly.

Headline: ECB surprises by 'tapering' its massive bond-buying program from next April

The European Central Bank (ECB) announced a continuation of the bank's generous asset-buying program on Thursday, although a reduced pace of purchases is set to start from April next year.

Current asset purchases of 80 billion euros ($86 billion) a month were due to end in March 2017, but will now be extended until at least December 2017 and will be cut to 60 billion euros a month from April 2017, the bank said in a statement. Benchmark interest rates were left unchanged.


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