Draghi Fails to Find Clarity in ECB Communication
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European Central Bank President Mario Draghi is struggling to find the right balance between saying too much and nothing at all.
Draghi won praise for his candor when he took the helm of the ECB seven months ago. Since then, he has kept investors guessing on three key Greek initiatives and confused some of them on the outlook for ECB bond purchases, whipsawing the euro and Italian and Spanish bonds. Economists from Nomura International Plc to ING Group NV say Draghi’s communication is exacerbating market turmoil.