While you were sleeping ECB disappoints too

Thu, 02 Aug 2012

By Margreet Dietz Aug 3 (BusinessDesk) - A day after the US Federal Reserve provided investors with reassurances but little immediate action, the European Central Bank also disappointed markets by doing the same. Hopes had been high after ECB President Mario Draghi's comments last week that the central bank will do "whatever it takes" to preserve the euro. However, Draghi today simply reiterated the possibility of buying Italian and Spanish government bonds to ease borrowing costs, without further details. He said he needs more time. "The Go...

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