Blackstone's Byron Wien Unveils His 'Ten Surprises' For 2015

Jan 7 2015 | 1:39pm ET

4. Mario Draghi finally begins to expand the balance sheet of the European Central Bank aggressively by buying sovereign debt, mortgages and corporate bonds.  In spite of this expansion, Europe falls back into a serious recession.  Germany is particularly weak as reduced demand from various trading partners has a major impact on its exports.  The European policy makers fail to embrace the one option, fiscal spending, that could turn the economy around, and European stocks decline.  Politically, Europe moves dangerously toward the right.

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