BERKELEY – When the European Central Bank announced its program of government-bond purchases, it let financial markets know that it thoroughly disliked the idea, was not fully committed to it, and would reverse the policy as soon as it could.
BERKELEY – Quand la Banque Centrale Européenne a annoncé son programme d’achat d’obligations d’Etat, elle a fait savoir aux marchés financiers qu’elle détestait l’idée, refusait de s’y engager complètement et l’annulerait dès que possible.