The Draghi Code

(1) Lost in translation. (2) Shooting from his hip or good on his feet? (3) Taking Lehman off the table? (4) The ECB’s mandate is to stay in business. (5) Rescue funds to the rescue first, but ECB can help too. (6) The “conditionality” requirement. (7) Lots of skeptics, but Draghi is ready to act. (8) Industry analysts cutting H2 earnings estimates. (9) Energy and Materials are weakest. (10) Global economic indicators remain weak, led by recessionary ones in Europe.