At some moment it will not be enough just to leak and rumor. They will have to do something. But by then it will be either too late or the reaction will be devastating.
ECB and the lack of action from ECB (any action) is becoming the most dangerous thing that is currently happening to EU
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Update:in direct flashback from the summer of 2011 when the ECB leaked news only to retract it within minutes, this just happened:
For those who have forgotten, here is the ECB playbook: leak "false" rumor, gauge market reaction, then promptly deny said rumor knowing quite well how the market will respond when the real news hits. Rinse repeat.
* * *
When in desperate need to crush your currency (being bought hand over fist by the Chinese), so urgently need to boost German exports, since you are unable to actually do QE as per your charter, what do you do if you are Mario Draghi? Well, you leak, leak, leak that you are contemplating QE, and then you leak some more. Such as today. From Bloomberg:
Like US inflation soared on the $1 trillion QEternity? Can't wait. In other news, expect zero reaction from gold on this latest news that another $1.4 trillion in fiat is about to flood the market. If only inbetween Mario Draghi's jaw bones.
Finally, where did the ECB "get" all of these bright and original ideas? Why Goldman Sachs of course, which released the following overnight: