Mario Draghi has saved the rich, now he must save the poor By then millions of people will have fallen into an "enormous poverty trap," to borrow the words of EU jobs chief Laszlo Andor. It is why Gustav Horn -- head of Germany’s IMK Institute and one of the country’s five `Wise Men’ -- called for an end to the contractionary torture last week. "It’s a vicious circle. Excess austerity is not reducing debt, it is causing debt to rise," he said.