[lbo-talk] Eurozilla: Wide Awake After All

[dredmond at efn.org]

Hmm, interesting. Bloomberg says the ECB has done more behind-the-scenes
lowering of rates than anyone realizes:

http://www.bloomberg.com/apps/news?pid=20601109&sid=a2SGLkQo2Hbs&refer=home

Here's the Bloomberg chart of EONIA (European overnight interbank lending
rate -- gotta love those acronyms), which is rapidly approaching zero,
i.e. is highly stimulative:

http://www.bloomberg.com/apps/cbuilder?ticker1=EONIA%3AIND

Europe still needs to do more to stimulate its economy and pick up the
slack from tapped-out US consumers, but this is a key precondition for a
recovery.

-- DRR