2nd August 2012
Mario Draghi, president of the European Central Bank (ECB), today (August 2nd) comes under intense pressure to deliver on his promises to save the single currency.
Stockmarket investors, European Leaders and even US treasury secretary Timothy Geithner will be waiting from policy announcements from the bank and any sign that his comments made last week are in vain could punish the euro.
Given the current economic position on the continent, the ECB has to get its action right, not only to maintain its credibility, but also to avoid bond yields rising across Europe's indebted countries, reports Reuters.
Sources have told the news provider that bold policy action is still some time away, but today may see Draghi give the markets some idea of what the ECB is planning.
Last week, he said: "The ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough."
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