While you were sleeping ECB gives Draghi green light

Thu, 06 Sep 2012

By Margreet Dietz Sept 7 (BusinessDesk) - The European Central Bank came through on President Mario Draghi's pledge to do whatever it takes to preserve the euro and detailed new, unlimited bond-buying plans to help keep a lid on borrowing costs of euro zone members. "Under appropriate conditions, we will have a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area," Draghi told a news conference in Frankfurt following the ECB's monthly meeting. "No ex-ante quantitative...

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