Mr. Draghi, Europe’s problem is not the demand for business loans but the supply of it.

Sir, Claire Jones reports “Draghi defends strategy after weak take-up of cheap loans” September 23. And therein she writes that Mr. Draghi acknowledged Europe had “a problem of lack of demand” for business loans.

How gracious of him… why does he not report the truth? That because of the risk-weighted capital requirements for banks, and the scarcity of bank capital, and what he admits the ECB’s Comprehensive Assessment that has banks running scared about coming out among the worse, Europe has a big problem with the lack of supply of bank credit to all those tough “risky” risk-takers it needs to get going when the times are tough.

Ah! Draghi might resort to quantitative easing buying sovereign bonds? How typical, helping those who are already awash in bank credit, and ignoring the clamor on the streets. Shame on him… and all because he refuses to admit to the fundamental mistake with the so distortive risk-weighted bank capital regulations, for which he is in large part responsible.

And Sir, and what amazes me the most is why we do not hear reporters asking Draghi about this… are there no real reporters left? Have these also been risk-weighted and weeded out?