Draghi: 'Euro Is Irreversible, ECB Is Ready To Intervene'

More from yesterday's closely-watched presser with 'whatever it takes' Mario.  He discusses sovereign bond purchases and would like you to believe that they are imminent, that they will be massive in scope, and that the Bundesbank supports his every move.

The European markets voted and decided he was lying, again.  Then they got crushed.

Related links from around the web:

• Complete Text of ECB President Draghi’s statement
• Draghi Admits: "I Was Buying Time And Trying To Put Pressure On Germany"
• Mario Monti Bets On Approval For Bailout Fund In Swipe At Germany - Bloomberg
• Draghi Edges Closer to Bond Purchases, but Hopes Are Blunted - NYT
• Draghi: "Pointless to bet against the survival of the Euro..."
• Draghi: "In my statement you will find the words 'within our mandate' several times"
• Goldman thinks market’s disappointment with ECB is premature - Reuters
• Bundesbank rains on Draghi’s ambitions
• BNP Furious That Draghi "Jumped The Gun, Cried Wolf"
• European Bonds Give Back ALL Draghi Gains In Worst Trading Day In A Decade

Solid compilation clip from Bloomberg...

Comments

[DailyBail]

The SEC released its long-awaited report on muniland disclosure and price transparency yesterday. Ten years from now, every retail investor will want to say a word of thanks to Commissioner Elisse Walter, even if only half her recommendations on transparency and investor protection are implemented. Unfortunately, her term as SEC commissioner expires June 5, 2013, which leaves her less than a year to get the ball rolling on her proposals.

http://blogs.reuters.com/muniland/2012/08/01/make-way-for-new-muniland-disclosure-and-market-structure/

[DailyBail]

Draghi Says ECB Works On Bond Plan Amid German Concerns

http://www.bloomberg.com/news/2012-08-02/draghi-signals-ecb-to-join-forces-with-governments-to-buy-bonds.html

[DailyBail]

The depression is here — it’s just invisible

http://www.marketwatch.com/story/the-depression-is-here-its-just-invisible-2012-08-01?Link=obinsite

[DailyBail]

(Reuters) - Germany's Economy Minister Philipp Roesler said on Wednesday he opposed granting a banking licence to the euro zone's new bailout fund, saying this would stoke inflation and relieve pressure on countries to reform their economies.

http://uk.reuters.com/article/2012/08/01/uk-eurozone-germany-roesler-idUKBRE8700EH20120801

[DailyBail]

Knight’s trouble began years ago

http://www.marketwatch.com/story/knights-trouble-began-years-ago-2012-08-02?

Commentary: Market maker has been struggling to grow