"Under the guise of ensuring the transmission of monetary policy, Mario Draghi is slowly upending the old system of government financing in Europe.
Furthermore, it's precisely because the bond buying scheme is so revolutionary, that it's made even some mainstream ECB defenders blush. CNBC's ace ECB reporter Silvia Wadhwa thought it was beyond the pale that Draghi's plan requires sovereign governments to undergo certain actions in order to get help. She identified this as a threat to democracy.
If Draghi's new plan (dubbed the OMT) gets off the ground, it's a very big deal in a way that QE can't compare."
