Last throw of the Dice?

Mario Draghi has at long last thrown his dice onto the table of the European finance. Now we wait to see what number will it show when it  comes to rest.  A quick history lesson, the word dice derives originally from the Latin  word datum “Something which is given or played”

This is most apt, ( you cannot find this on an Ipad!) The country that will be doing most of the giving will be Germany, and the German central banker, Weidmann was the one dissenting voice in the ECB governing council. If you give, mostly you will expect something back in a series of negotiations. Weidmann obtained crucial safeguards concerning these bond purchases by ensuring money supply in the euro zone remains stable in order to avoid a rise in  inflation, one of Germany’s main historical concerns.

So is that the eurozone sorted for the Autumn? Well I am not so sure. Spain is still not really in the real world, Mariano Rajoy the Spanish Prime Minister either cannot say what we all know, that Spain requires a full bailout, or politically he is unable to say this to his country. He thinks he can dictate the terms of a future bailout to the ECB.  He does not have this option at all, and the longer that he waits, the worse the terms will be for Spain. Already, some of the Spanish regions are muttering about separatism.

With developments both in the Netherlands and France, I am sure that the eurozone  problems will continue throughout the rest of the year. So we simply wait until the dice has come to a rest.

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8 Responses to Last throw of the Dice?

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