The Euro is tumbling as Italy slashes economic growth expectations:
*BANK OF ITALY SEES ITALY GDP UP 0.2% THIS YR, 1.3% IN 2015
*BANK OF ITALY SEES DOWNSIDE RISKS FOR ITALY GROWTH EST. THIS YR
The Bank of Italy expected 0.7% growth for 2014 in January and this shift lowers the estimate below consensus. Of course, there's no need to wqory about a triple-dip recession as Italy raised its 2015 estimate from 1.0% to 1.3% - hockey sticks are back...
Bank of Italy slashes 2014 growth expectations...
and that resulted in what Draghi could not manage...
Credit to Zero Hedge
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