Draghi Still `Super Mario' to Dollar-Thirsty Emerging Markets
- BIS says emerging market corporates borrowed $3.3t in dollars
- Morgan Stanley says ECB restraint may be good in longer term
Politics Adds Another Challenge for Draghi, ECB
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The European Central Bank president may still be “Super Mario” in emerging markets.
While Mario Draghi last week disappointed most investors in easing the euro-area’s monetary stimulus by less than they expected, the resulting slide in the dollar against the euro provides some short-term relief to those developing economies long debt in the greenback and suffering from its recent surge.