After yesterday's rather amusing ECB press conference, which happned to be Trichet's last the market is looking forward to the actions of the new president, Italy's Marco Draghi.
Trichet laid the perfect groundwork for more easening by warning the lower growth is the threat, not higher inflation, implying that Draghi's first action could be lowering rates.
While praised for his hawkish attitude, has the core of Europe gotten its president its deserved, or will further austerity measures in Italy end the legacy of Trichet?
Read more on
http://www.bloomberg.com/news/2011-09-08/trichet-clears-the-decks-for-draghi-to-use-all-tools-in-ecb-box.html
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