By Eric Peters, CIO of One River Asset Management
Panic:
“We can no longer squander our strengths with self-imposed handicaps,” wrote Christine Lagarde and Ursula von der Leyen in a FT opinion piece [here] titled: Europe has got the message on change. “There is too much at stake,” continued the ECB and European Commission presidents, hoping to reassure voters and investors that help is on the way from policy makers and politicians. “We are ready to do whatever is necessary to bring Europe back on track,” they wrote in closing, channeling Draghi’s ‘whatever it takes’ speech that saved the Euro in 2012.
