Gee, who could have seen this coming except for everyone who has paid attention since LTCM and the 2008 crash?
Notice the headline expresses zero concern about the little guy, this is all about the elites having to deal with a new global systemic restructuring where half the world no long wants to play by the Queen’s rules under the thumb of the Fed-BoE-ECB-BoJ financial cabal.
From the article:
“They will have an ad hoc meeting to discuss current market conditions,” a spokesperson for the central bank told CNBC.
In other words the long feared credit issues that are starting to hit Europe along with an almost hyperinflationary condition impacting the weak sisters within the European Union has resulted in Madame LaGarde engaging in full blown panic.
If anyone thinks our Fed is not coordinating with the ECB, they are a fool. The truth is that the risk of the Fed liquidating assets at an accelerated pace is not real, but the currency dislocations that have already happened are destroying major economies in Europe like France, Germany, and the Netherlands. There are other domestic political issues also creating problems but the truth is the ECB, like the Bank of Japan and Fed, have lost control of their markets and now must re-assert themselves to salvaging what they can.
Madame Cruella Deville who heads the ECB has some major issues and by invoking a green agenda along with promoting a globalist agenda, the central bank in Europe has set the table for importing US inflationary policies while at the same time experiencing stagnant, if not recessionary growth for the foreseeable future.
No matter what the ECB does, it will be viewed as a panic move, just like the Fed, which will have little to any impact over the long term other than to create a new PIIGS crisis and destroy the EU’s periphery economies.