Ambrose Evans-Pritchard of The Telegraph is usually one of the foremost purveyors of the Euro doom argument, so it's worth sitting up and taking notice at his latest column...
In it, he says The Telegraph can corroborate that Der Spiegel article from this weekend, which said the ECB is preparing some kind of scheme to cap borrowing costs for Spain and Italy.
That article was the subject of analyst skepticism, and it was rejected by the ECB this morning (though in some very careful language).
By EconMatters The big buzz about the debt-embattled Euro Zone on an otherwise quiet Sunday came from German news magazine Der Spiegel that ECB is considering measures to cap the borrowing costs of the crisis-central PIIGS countries... Read Post
The buzz all weekend was the Der Spiegel report about the ECB planning to implement a scheme whereby peripheral borrowing costs would be capped in some manner. The report suggested that such a scheme could be unveiled at the ECB's S... Read Post
The latest column from Ambrose-Evans Pritchard -- The Telegraph's star finance columnist -- is a must read. The title: You are all wrong, printing money can halt Europe's crisis. As you can surmise, he thinks the idea that fiscal di... Read Post