September 11, 2012

Democracy the Big Loser in Europe

Gideon Rachman, Financial Times

AP Photo

THE European Central Bank (ECB) has fired its magic bullet. By promising "unlimited" purchases of sovereign bonds, ECB president Mario Draghi may have kept his pledge to do "whatever it takes" to save the euro. But in rescuing the currency, Draghi’s magic bullet has badly wounded something even more important — democracy in Europe.

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TAGGED: Spain, Germany, Mario Draghi, ECB, European Union, Euro, EU, Eurozone, Europe, European Central Bank

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