across the globe. draghi: yields disrupting policy transmission are in ecb remit. this is a sentence, one sentence, or fragment, that caused a huge stock market rally. it s a sentence that could mean the eurozone is going to survive, and it is a sentence that when i first saw it, i understood three words, draghi, are, and in. i understand it now, and in two minutes, you re going to understand it too. all right, do we have a clock? okay. go. let s begin at the beginning here. draghi is mario draghi, the guy who runs the european central bank, europe s ben bernanke, and as much as the crisis there is anybody s fault, it is his fault and that of his predecessors. they are the ones that control how much money is available. now, the simplest way to understand the euro crisis is greece, spain, portugal, italy, and ireland, are having trouble borrowing money. if they can t borrow money, they collapse. if they collapse, the eurozone
collapses, if the eurozone goes down, the world economy is going to get hurt very badly. mario draghi and the central bank can solve the problem. you see, they can print money, as much of it as they want, and lend it to the struggling countries. spain needs money or we all go under. here, spain, here s money. but they ve been saying this is against the rules for them, they can t lend money like that, and even if they could, they wouldn t because inflation is scary, but that crazy sentence there, that s them saying they might begin bending the rules, which is exactly what the market s been waiting for them to do. if you translate yields disrupting policy transmission are in ecb remit in normal english, it would say something like the eurozone collapsing to the point we can no longer do our jobs is something we have the power to intervene in, and it scares us even more than inflation does. the only catch here, we don t know how much draghi is willing to do. that is a very good sentence f
borrowing money. if they can t borrow money, they collapse. if the eurozone goes down, the world economy goes down very badly. mario draghi and the central bank can solve the problem. you see, they can print much, as much as of it as they want and lend it to the struggling countries. spain needs money or we all go under, here, spain, here s money. but they ve been saying this is against the rules for them, they can t lend money like that, and even if they could, they wouldn t because inflation is scary, but that crazy sentence there, that s them saying they might begin bending the rules, which is exactly what the market s been waiting for them to do. if you translate yields disrupting policy transmission are in ecb remit in normal english, it would say something like the eurozone collapsing to the point we can no longer do our jobs is something we have the power to intervene in, and it scares us even more than inflation does. the only catch here, we don t
draghi: yields disrupting policy transmission are in ecb remit. this is a sentence, one sentence, or a fragment, that caused a huge stock market rally. it s a sentence that could mean the eurozone is going to survive, and it is a sentence that when i first saw it, i understood three words draghi, are and in. but i understand it now, and in two minutes, you re going to understand it, too. all right, do we have a clock? okay, go. let s begin at the beginning here. draghi is mario draghi, it s a guy who runs the european central bank. he s europe s ben bernanke. and as much as the crisis there is anybody s fault, it is his fault and that of his predecessors. they are the ones who control how much money is available. now, the simplest way to understand the euro crisis is that greece and spain and italy and portugal and ireland are having trouble borrowing money. if they can t borrow money, they collapse. if they collapse, the eurozone
every hedge fund and investment bank across the globe. draghi: yields disrupting policy transmission are in ecb remit. this is a sentence, one sentence, or fragment, that caused a huge stock market rally. it s a sentence that could mean the eurozone is going to survive, and it is a sentence that when i first saw it, i understood three words, draghi, are, and in. i understand it now, and in two minutes, you re going to understand it too. all right, do we have a clock? okay. go. let s begin at the beginning here. draghi is mario draghi, the guy who runs the european central bank, europe s ben bernanke, and as much as the crisis there is anybody s fault, it is his fault and that of his predecessors. they are the ones that control how much money is available. now, the simplest way to understand the euro crisis is greece, spain, portugal, italy, ireland, are having trouble