The Rather Talented Mr Draghi

The Rather Talented Mr Draghi PR Newswire LONDON, August 29, 2012 LONDON, August 29, 2012 /PRNewswire/ -- - Sarasin & Partners' Guy Monson on the 'Draghi Effect' and implications for global investors Mario Draghi is proving to be a surprising friend of global markets, with world equities up by around 10% since his appointment to the ECB in November 2011. Most of the gains came in the aftermath of his big policy announcements; namely, the first round of his trillion euro LTRO programme last December, and more recently in his "whatever it takes" speech in London in July. While none of these actions alone are a panacea for restarting European growth, Draghi's pledge of co-ordinated action has calmed markets with both its technical competence, political guile and tentative roadmap for ECB intervention and (perhaps ultimately) fiscal union. So what does the 'Draghi Effect' mean for global investors?