“Are we finished? The answer is no.” – Mario Draghi, president of the European Central Bank says

Draghi Unveils Historic Measures to Counter Deflation Threat

Mario Draghi, president of the European Central Bank (ECB), reacts whilst speaking at a news conference where he unveiled historic measures to face down inflation in Frankfurt, Germany, on Thursday, June 5, 2014.

Bloomberg News reported:

The ECB today cut its deposit rate to minus 0.1 percent, becoming the first major central bank to take one of its main rates negative. In a bid to get credit flowing to parts of the economy that need it, the ECB also opened a 400-billion-euro ($542 billion) liquidity channel tied to bank lending and officials will start work on an asset-purchase plan. While conceding that rates are at the lower bound “for all practical purposes,” he signaled the the ECB is willing to act again.

“We think it’s a significant package,” Draghi told reporters in Frankfurt. “Are we finished? The answer is no.”

Courtesy: Bloomberg

http://bloombergphotos.tumblr.com/post/87896972441/draghi-unveils-historic-measures-to-counter

Occupy the world

– by DAWN.COM

Inspired by the Wall Street rallies that began on September 17, protestors worldwide have joined in the movement against financiers and politicians they accuse of ruining global economies.

Dozens of cities across the world, including London, Frankfurt, Washington Australia, Tokyo and Hong Kong, are holding demonstrations today in a show of solidarity with “Occupy Wall Street”, which is being coined as the “people powered movement for democracy.”

According to participants, these non-violent demonstrations are being staged to be initiate global change.

As these protests gain momentum globally, comparisons have been made between the Occupy Wall Street protests and the recent demonstrations in several Arab countries, some of which have seen change as a result.

In your opinion, can these protests actually reform global financial systems and how our countries economies are governed?

Is there really such a thing as people’s power?

Read more » Dawn.com invites its readers to give their views and suggestions.