Europe’s Central Bank Helps Out

The Lehmann Letter (SM)

This letter has expressed optimism over Europe’s long-term prospects. An article in today’s Wall Street Journal, entitled “Europe's Bond Sales Mark ECB Success Story,” (ECB = European Central Bank) sustains that optimism:

http://online.wsj.com/article/SB10001424052970204571404577255531548237386.html?mod=ITP_moneyandinvesting_0

The article begins:

“Buyers lined up for auctions of government debt Thursday, helping drive down borrowing costs for countries across the euro zone and providing strong evidence that the wave of cash injected into lenders by the European Central Bank is finding its way to stressed governments.”

Europe’s central bank is working in conjunction with Europe’s governments to ease Europe’s fiscal crisis. Let’s wish them well.

(To be fully informed visit http://www.beyourowneconomist.com/)

© 2012 Michael B. Lehmann