Mario Draghi, new president of the European Central Bank, announces interest rate cuts after his first meeting with the ECB Governing Council on November 3.(Getty Images)
Mario Draghi, new president of the European Central Bank, announces interest rate cuts after his first meeting with the ECB Governing Council on November 3.
(Getty Images)

Europe—Dragon Comes Out Swinging

November 4, 2011  •  From theTrumpet.com
The new president of the European Central Bank has lost no time making his mark.
 

Mario Draghi came out of the gate swinging a powerful punch during his first meeting with EU officials as the European Central Bank’s (ecb’s) new president. He immediately moved to enact a change in eurozone interest rates (something his predecessor, Claude Trichet, had refused to do), dropping the EU benchmark rate by 25 basis points to 1.25 percent, and also cutting marginal lending rates to 2 percent and the deposit rate to 0.5 percent.

This was the latest shocker in a volatile week for financial markets in Europe, the effects of which continue to ripple around the globe. But this time, after receiving a battering from confusing signals coming out of Greece, the markets reacted positively.

The rest of this article is available to Trumpet online account holders. Signing up is quick and free of charge with no obligation. To get started, please click the button below.

Literature Offer


Study our booklet Prophesy Again: God’s Commission to His End-time Church for an understanding of the real power that is rapidly propelling the seventh, and final, resurrection of the Holy Roman Empire into being.
Additional Reading: