{"id":8424,"date":"2015-05-24T07:01:52","date_gmt":"2015-05-24T12:01:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8424"},"modified":"2015-05-24T07:01:52","modified_gmt":"2015-05-24T12:01:52","slug":"mario-draghis-slippery-downward-slope","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8424","title":{"rendered":"Mario Draghi\u2019s Slippery Downward Slope"},"content":{"rendered":"

Mario Draghi\u2019s Slippery Downward Slope<\/a><\/h3>\n

Mario Draghi made another huge faux pas Thursday, but it looks like the entire world press has become immune to them, because it happens all the time, because they don\u2019t realize what it means, and because they have a message if not a mission to sell. But still, none of these things makes it alright. Nor does Draghi\u2019s denying it was a faux pas to begin with.<\/p>\n

And while that\u2019s very worrisome, \u2018the public\u2019 appear to be as numbed and dumbed down to this as the media themselves are -largely due to \u2019cause and effect\u2019, no doubt-. We saw an account of a North Korean defector yesterday lamenting that her country doesn\u2019t have a functioning press, and we thought: get in line.<\/p>\n

It\u2019s one thing for the Bank of England to research the effects of a Brexit. It\u2019s even inevitable that a central bank should do this, but both the process and the outcome would always have to remain under wraps. Why it was \u2018accidentally\u2019 emailed to the Guardian is hard to gauge, but it\u2019s not a big news event that such a study takes place. The contents may yet turn out to be, but that doesn\u2019t look all that likely.<\/p>\n

The reason the study should remain secret is, of course, that a Brexit is a political decision, and a country\u2019s central bank can not be party to such decisions.<\/p>\n

It\u2019s therefore quite another thing for ECB head Mario Draghi to speak in public about reforms inside the eurozone. Draghi can perhaps vent his opinion behind closed doors, for instance in talks with politicians in European nations, but any and all eurozone reforms remain exclusively political decisions, even if they are economic reforms, and therefore Draghi must stay away from the topic, certainly in public. Far away.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Mario Draghi\u2019s Slippery Downward Slope Mario Draghi made another huge faux pas Thursday, but it looks like the entire world press has become immune to them, because it happens all the time, because they don\u2019t realize what it means, and because they have a message if not a mission to sell. But still, none of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[56,5582,122,233,282,285,3771,1044],"class_list":["post-8424","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-bank-of-england","tag-brexit","tag-central-bank","tag-ecb","tag-european-central-bank","tag-eurozone","tag-guardian","tag-mario-draghi"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8424"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8424\/revisions"}],"predecessor-version":[{"id":8425,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8424\/revisions\/8425"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}