ECB is right to do whatever it takes

The ECB surprised the markets by cutting interest rates last week to a historic low of 0.25 per cent. It was, without doubt, the correct thing to do.

The ECB surprised the markets by cutting interest rates last week to a historic low of 0.25 per cent. It was, without doubt, the correct thing to do. The ECB, under Jean Claude Trichet, was too slow to move in the early period of the financial crisis and its action deepened the recession that has blighted Europe. It is now clear that Mario Draghi's regime is markedly different - he is now backing ...