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The Speech That Transformed European Markets—Five Years Later
Five years ago, European Central Bank chief Mario Draghi took the stage in London to give the speech that ushered in the beginning of the end of the continent’s sovereign-debt crisis.
Several features of the financial panic that had characterized the previous two years began to subside almost immediately after he spoke. But five years later, the economic performances of the bloc’s members are hugely varied, and the recent recovery has been painfully slow.
