ECB’s QE Program Implemented Without a Vote

Mario Dragi Naples 10-3-2014 I have stated time and time again, whenever a politician speaks, you have to listen to every word and read not just between the lines, you have to read between each letter. Mario Draghi said at the press conference, the majority was so clear that a vote was not necessary. That was an outright lie. Draghi did not take a vote for it would have revealed the divide emerging within the EU of the North v South. The representatives of Germany, Austria, Estonia and the Netherlands were all opposed, so there was no majority. Consequently, there was no legal instrument voted on for the QE flooding of markets with one trillion euros. Therefore, five out of 25 members of the Governing Council would have voted no and this would have publicly exposed the rift between North and South that will only grow wider.