Thursday, 6 September 2012

ECB to buy Spanish debt 'if countries request it'

Mario Draghi
Mario Draghi unveils bond-buying euro debt plan
EUROPE (BBC) Mario Draghi, president of the European Central Bank, has unveiled details of a new bond-buying plan aimed at easing the EuroZone's debt crisis. He said the scheme would provide a "fully effective backstop" and that the euro was "irreversible". The ECB aims to cut the borrowing costs of debt-burdened eurozone members by buying their bonds. Ahead of the announcement, the central bank kept the benchmark EuroZone interest rate unchanged at 0.75%. (Read the full article here)

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