Feb. 9 (Bloomberg) -- The European Central Bank left its benchmark interest rate at a record low of 1 percent, as predicted by 55 of 57 economists in a Bloomberg News survey. Michael McKee, Sara Eisen and Erik Schatzker report on Bloomberg Television's "InsideTrack." (Source: Bloomberg)

www.theforexnittygritty.com - - The European Central Bank rate of interest on loans to client banks may fall in the coming year. The new European Central Bank president, Mario Draghi, is expected resemble US Federal Reserve Chairman, Ben Bernanke, in his actions, more so than his predecessor, Jean-Claude Trichet. Draghi, like Bernanke, studied at the Massachusetts Institute of Technology. With Greek debt default still a strong possibility the EU has given the bank broader powers to prop up banks as well as governments. There are two problems that leaders of the EU and the Central Bank face. One is that governments across the continent need to spend less. We see this in the recently announced French austerity plan. The other is that decreased spending could well drive the continent back into a recession. It appears as though Draghi may follow Bernanke's lead in driving interest rates lower in an attempt to avoid recession and increased unemployment by cutting the European Central Bank rate among other measures. There is, indeed, speculation that Draghi could find himself following the Fed example of buying government bonds as well. The new bank president has already surprised many by issuing 1% interest loans amounting to over $600 Billion USD to prop up ailing European banks. The end result of all this could well be a yearlong decline in the Euro. Currency traders and others can heartened by the prospect of the EU getting a handle on the debt <b>...</b>

General strike hits Greece over new round of austerity ‎ Tens of thousands of workers from the public and private sectors gather at Constitution Sq. to protest against the demands of the International Monetary Fund, the European Union and the European Central Bank for deeper cuts in wages, pensions and insurance funds in return for a 130 billion euro loan before March. Constantine Venizelos, Press TV, Athens

Davos 2012 - Europe's Economic Outlook www.weforum.org What steps are needed to restore growth and confidence across the Eurozone? • Mario Draghi, President, European Central Bank, Frankfurt Chaired by • Klaus Schwab, Founder and Executive Chairman, World Economic Forum; Foundation Board Member

www.forexconspiracyreport.com - European Central Ban Monetary Policy - As Mario Draghi takes charge, European Central Bank monetary policy seems about to change. During the last year of the European sovereign debt dilemma the bank president, Jean-Claude Trichet, kept interest rates high. This policy supported the value of the Euro but may have served as a damper on struggling European economic growth. Draghi seems to be following policies more like those of United States Federal Reserve chairman, Ben Bernanke. Interestingly both were doctoral students at the Massachusetts Institute of Technology. If, indeed, Draghi is going to follow Bernanke's lead in attempting to rescue the European economy, just what steps might he take? Here we look at the so called "Bernanke Doctrine." Mr. Bernanke is considered an expert on the causes of the Great Depression and has written and spoken extensively about how to avoid deflation. His recipe for doing so is commonly referred to as the Bernanke Doctrine. Here is a synopsis of the Bernanke doctrine, what could just be the roadmap for coming European Central Bank monetary policy. Increase money supply. Do this via printing money if necessary Maintain liquidity of the financial system Lower interest rates down to zero if necessary Control the yields on corporate bonds and other private securities Lend money to banks a zero percent and take back corporate bonds as collateral Depreciate the US dollar Buy foreign currencies in large quantities <b>...</b>

Extract from interview with Professor Costas Panayotakis (December 9th 2011, The Big Picture RT, Thom Hartmann) The Neo-liberal Free Market is eroding the European social model Costas Panayotakis is the author of "Remaking Scarcity: From Capitalist Inefficiency to Economic Democracy" and an Associate Professor of Sociology at the New York City College of Technology of the City University of New York Thanks for YouTube sharing: user/TheBigPictureRT Uploaded on Dec 9, 2011 Google The Web: Neoliberalism Council of the European Union Market Democracy MMT

The ECB and other global central banks have been keeping interest rates low and flooding the markets with easy money, boosting risk assets including the euro. JR Crooks discusses the strategy, and what it means for the currency market going forward.

If Greece accepts money from the IMF or the European Central Bank they will have to surrender a degree of their independence. There is no such thing as a free lunch. Source: www.ft.com Source: www.google.com KK Website: kingdomknowledge.info

European Central Bank President Mario Draghi on Monday evening welcomed the agreement reached among leaders of 25 of the European Union member states on more stringent rules for government budgets of eurozone countries, saying he expect the agreement will support the euro.

'Expecting modest EU growth' The outgoing CEO of Deutche Bank tells NDTV that the steps taken by the European Central Bank has been critical in restoring faith in Europe's banking system. The financial system is much more stable than before, Ackerman says. But the deleveraging process for the banks in the EU region means that growth will be muted in the near future.

The annual World Economic Forum has kicked off and the rich and powerful have come together in Davos, Switzerland. The Eurozone has been in the spotlight at the summit and yesterday German Chancellor Angela Merkel has asked the people at the summit to be patient with the Eurozone debt crisis. Many critics believe that the only real solution for the European Union is to create a central bank. Lauren Lyster, host of Capital Account, joins us for the latest from Davos. I created this video with the YouTube Video Editor (www.youtube.com

-Technocrat vs Taxi driver - Vincent Browne takes on the European Central Bank in Ireland

Dean Baker, co-director of the Center for Economic and Policy Research, joins TR studio to analyze if the the collective compact supported by the proposed new international treaty on fiscal union is really a power grab. (Extract from RTAmerica, Jan 9,2012) Key Economical Facts: Over decades, the democracy has been systematically stripped away The EU is now ruled by a group of unelected key figures who depend on several supranational and intergovernmental institutions whose powers have considerably increased over the years Insufficient to no funding coming from the European Central Bank Thanks for YouTube sharing: user/RTAmerica Google The Web: EU PIIGS

Technocrat vs Taxi driver - Vincent Browne takes on the European Central Bank in Ireland Follow on twitter: @ukipwebmaster

Central banks around the world are loosening their monetary policies amid concerns about fallout from the European sovereign debt crisis. But the ECB is holding its interest rates steady. Andy Myers discusses Jack Crooks's theory about their motive.