“The economic news from Europe could hardly be more depressing for Mario Draghi, head of the European Central Bank. He has thrown $1.3 trillion in credit at Europe’s stricken banks, launched an ‘unlimited’ program of buying euro government bonds in secondary markets and now has a $650 billion war chest to bail out the euro weaklings. That is why he has been dubbed Super-Mario. But Super Mario has been mugged by reality. With Italy moving into crisis and France looking as if it could be next, a dismayingly bumpy road map now looms ahead for Europe.”
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