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>> The European Union is moving to shut down a big part of the economic stimulus policies it started in the wake of the 2008 financial crisis. The European Central Bank or ECB met in Latvia to say they're stopping its bond buying program. It only started buying the bonds back in 2015, which was unprecedented for them at the time.
But Reuters financial guru, Neil Unmac says new threats to their economy, means they're gonna step lightly for now.>> The economy, the US economy is growing pretty well, it's growing above potential growth, unemployment has been falling for some time. What makes the situation a little bit more difficult, of course, is the political backdrop.
So you have the prospect of a trade war with the US, particularly if the US imposes tariffs on Eurozone cars. It's not really clear how the Eurozone will respond to that. But the biggest issue of all for the ECB, which is probably the hardest for it to manage, is the situation in Italy.
So we have a new government in Italy which wants to really tear up the rule book in terms of fiscal policy and in many areas of typical Eurozone industrial policy.>> We have a non-questionable increase in the geopolitical global uncertainty.>> The ECB's chief, Mario Draghi, is an Italian himself.
And downplayed the political chaos in his homeland, but he also signaled the European Union wouldn't being raising interest rates any time soon out of caution. Unlike the Americans who did the exact opposite the day earlier.