Matthew Lynn’s London Eye: Draghi could fire a Big Bazooka simply by giving up

LONDON (MarketWatch) — Interest rates taken even deeper into negative territory. A fresh round of QE. Extending the length of the existing program. Buying up even more unconventional assets.

Short of literally flying across Naples or Lisbon in a helicopter and chucking out freshly minted euros, it is hard to know what else Mario Draghi can do to revive the eurozone economy when the European Central Bank meets later this week.

Ahead of that meeting, the markets are looking for yet more extreme policies from the ECB, and speculating feverishly on new gimmicks it might launch. In reality, its president should ignore them — and try something genuinely radical instead.

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