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Quarterly Newsletter - Autumn 2012


Just after we penned our last quarterly newsletter in late July, European Central Bank President Mario Draghi – or Super Mario, as he is often called – announced that the ECB would do “whatever it takes” to save the euro and thus protect the eurozone from collapse.  To be specific, what he actually said was this: “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro.  And believe me, it will be enough.”

It is the second sentence of that statement that raised a few eyebrows.

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