About: David B. Armstrong, CFA

The rapidly collapsing financial situation in Spain finally appears to be forcing the European Central Bank into action.  Early Thursday morning, European Central Bank President, Mario Draghi, surprised the markets by announcing he’s ready to take more forceful action to save the euro zone. Specifically, he said, “Within.

The rapidly collapsing financial situation in Spain finally appears to be forcing the European Central Bank into action.  Early Thursday morning, European Central Bank President, Mario Draghi, surprised the markets by announcing he’s ready to take more forceful action to save the euro zone. Specifically, he said, “Within.

The news of the European economy took a back seat to the 2^nd quarter earnings releases this past week.  There was a lot of cautious talk in the announcements but for the most part, the companies that have announced have done ok (barely) relative to the reduced expectations. .