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Eurozone crisis: ECB introduces unlimited bond-buying programme

Josephine Moulds,
Thursday 6 September 2012 14.48 BST

The ECB's Mario Draghi has announced that the central bank will buy eurozone governments' bonds in unlimited amounts.

Mario Drghi, the president of the European Central Bank, has pushed through a controversial scheme to save the euro, trampling over German opposition.

Stock markets on both sides of the Atlantic rallied strongly after the ECB announced that it was prepared to buy unlimited quantities of government bonds to help Europe's struggling periphery, as long as countries agreed to economic reform plans in return.

At the same time, the ECB said that the economic outlook for the eurozone had deteriorated. It now expects the eurozone economy to shrink by 0.4% in 2012 and grow by 0.5% in 2013, while inflation rises to 2.6%.

Draghi said the vote to start buying the bonds of crisis-hit s

Added: Sep-6-2012 Occurred On: Sep-6-2012
By: gemini
Regional News
Tags: bailout
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