Europe’s economic crisis deepens. – ECB mulls

The European Central Bank has slashed its euro zone growth forecasts and warned that recession will drag on into the middle of next year, sending the euro plunging below €1.30 to the dollar.

Mario Draghi, the ECB’s president, said the governing council had discussed a cut in overnight deposit rate to below zero for the first time, and was “operationally ready” to do so if needed.
The comment sent the euro into a nosedive, Continue reading “Europe’s economic crisis deepens. – ECB mulls”