The age of central bank superstars is at an end

02 June 2019 - 00:17 By Tim Wallace

Mario Draghi's greatest moment came in the summer of 2012. At a slightly weird financial conference in London, the European Central Bank (ECB) president pledged to do "whatever it takes" to save the euro. He was just eight months into the job, but the promise held weight and marked a crucial turning point in the eurozone's banking and sovereign debt crisis. The ECB would buy government bonds until the markets stopped panicking. It worked. He bought the eurozone breathing space, giving politicians time to iron out the currency bloc's problems and set it on a more stable footing.

They did not actually use the time for that, but Draghi did his bit. He has spent the years since repeating his message on the need for economic reforms with an increasingly weary expression...

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