Draghi Warns Brexit Will Lead To “Competitive Devaluations”, Years Of Low Growth

Draghi in full panic-monger mode… (via Bloomberg)

• *DRAGHI SAID TO SEE BREXIT VOTE CUTTING EURO GDP AS MUCH AS 0.5%
• *DRAGHI SAID TO SEE GDP GROWTH REDUCTION FOR NEXT THREE YEARS
• *DRAGHI CONCERNED BREXIT WILL LEAD TO COMPETTIVE DEVALUATIONS
• *DRAGHI SAYS IT’S TIME TO ADDRESS BANK VULNERABILITIES
• *DRAGHI SAYS `WE CANNOT AFFORD NOT TO’ FIX BANK VULNERABILITIES
• *DRAGHI SAYS BREXIT RECESSION WOULD AFFECT FX MARKETS

Of course, the panic-mongering is simply the excuse to enable more QE… and ultimately Helicopter money.