Mario Draghi sees reason to be “optimistic” about the euro-areafinancial crisis now that he's committed the European CentralBank's balance sheet to ending it.
That confidence depends on political leaders who have rarelymissed an opportunity to miss an opportunity since Greece's 2009deficit blowout began upending the 17-nation euro zone. Their trackrecord and the compromises required to put their promises intoaction leave Juergen Michels, chief euro-area economist atCitigroup Inc. in London, skeptical.
“There are still a huge amount of unanswered questions and theregion has to find a way back to growth and reduced debt,” saidMichels. “The journey is still very, very long.”
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