How Far is the ECB Prepared to Go to Save the Euro?

July 29, 2012 by

Re-reading Mario Draghi’s market-moving remarks last Thursday, one gains a sense that the European Central Bank chief recognizes that the ECB has a banking run on its hand. Most market participants have understandably focused on Mr Draghi’s pledge that the ECB was “ready to do whatever it takes” to preserve the single currency. “Believe me, it will be enough,” he told a conference in London.

After Libya, the Focus turns to Syria

July 29, 2012 by

In 1995, I had a rare opportunity to spend some time in Syria, where the Damascus Trade Fair was taking place. A normally secretive Arab country had opened its doors to a select group of Western journalists, businessmen and officials. The event was aimed at showing glimpses of a rich mix of civilizations going as far back as between 9000 and 11000 B.C., described as a Hidden Pearl of the Orient.