Mario Draghi finally has reason for cheer as a new year begins.
Eighteen months since the European Central Bank president declared he would do “whatever it takes” to protect the euro, fresh signs are emerging that his ad-libbed lines in a July 2012 London speech still serve as a potent force.
The confidence Draghi engendered helped dissipate a crisis that brought the very existence of the euro into question. Even onetime single-currency skeptics such as Nobel laureate Paul Krugman and economist Nouriel Roubini praise Draghi for reviving his region.
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