What is Mario Draghi’s real objective?
Many observers were surprised by the fact that M ario  Draghi practically announced a cut in the ECB’s interest rates, at a time when banks’ deposit rate at the central bank is - 0.4% and Germany's 10-year interest rate is - 0.3%. What is Mr Draghi really seeking? Officially, there is no ambiguity: the objective is to bring inflation and expected inflation towards the 2% target; but we can see that the expansionary monetary policy is unable to make this happen, even with a significant fall in the unemployment rate, and even with a weak euro; Could Mr Draghi have a different objective? Is it to maintain the fiscal solvency of the peripheral countries, and Italy in particular ? If that is the case, it would be fiscal dominance; Could it be an attempt to "overheat" the economy, and force companies to become more efficient, with higher productivity gains?