I just can't shake his comment that no one knows when negative rates will have gone to far

For a central bank that doesn't do dip until they've been given updated forecasts from a huge team of researchers, nor embarks on monetary policy without the same or another "technical team" working out the legalities and logistics of their "tools", I find his comment quite shocking.

This mob increased staff costs nearly 50% last year to €441m yet they've got no one who can calculate the risks of negative rates or even make a frigging guess?? It's a further worrying indication that these clowns are in headless chicken mode.

If journos at the next ECB meeting had any sense the first question to Draghi would be "What the hell are you getting yourselves into?"

Constancio will get back to us on the negative rate risk