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How to lose money betting against Europe

„The euro is like a bumblebee,” noted Mario Draghi, former boss of the European Central Bank (ECB), in 2012. „This is a mystery of nature because it shouldn’t fly but instead it does.” Mr Draghi was a better central banker than entomologist. In the same speech, he vowed to do „whatever it takes to preserve the euro”, a pledge that ended the acute phase of the crisis that had roiled the currency union for three years.

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TagsThe Economist December Mario Draghi James White John Paulson Alan Howard Victor Haghani New Jersey

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