日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

ECB launches last-ditch program to revive euro economy

(Agencies) Updated: 2015-01-22 22:10

ECB launches last-ditch program to revive euro economy

European Central Bank (ECB) President Mario Draghi arrives for an ECB news conference in Frankfurt January 22, 2015. The European Central Bank kept the cost of borrowing unchanged on Thursday, remaining poised to announce a plan to buy government bonds, its last big policy option for breathing life into the flagging euro zone economy. [Photo/Agencies]

FRANKFURT - The European Central Bank took the ultimate policy leap on Thursday, launching a government bond-buying program which will pump hundreds of billions of new money into a sagging euro zone economy.

The ECB said it would buy government bonds from this March until the end of September 2016 despite opposition from Germany's Bundesbank and concerns in Berlin that it could allow spendthrift countries to slacken economic reforms.

Together with existing schemes to buy private debt and funnel hundreds of billions of euros in cheap loans to banks, the new quantitative easing programme will pump 60 billion euros a month into the economy, ECB President Mario Draghi said.

By September next year, more than 1 trillion euros will have been created.

"The combined monthly purchases of public and private sector securities will amount to 60 billion euros," Draghi told a news conference. "They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation."

Bonds will be bought on the secondary market in proportion to the ECB's capital key, meaning the largest economies from Germany down will see more of their debt purchased by the ECB than smaller peers.

The prospect of dramatic ECB action had already prompted the Swiss central bank to abandon its cap on the franc while Denmark, whose currency is pegged to the euro, was forced to cut interest rates in anticipation of the flood of money.

The Danish central bank intervened to weaken the crown ahead of the announcement.

Former ECB policymaker Athanasios Orphanides said action was long overdue. "The ECB should have already embarked on QE," he said. "Now that the situation has deteriorated, the ECB will have to do much more."

The euro fell, European shares jumped and bond yields in Italy, Spain and Portugal fell with the single currency dropping a full cent against the dollar to $1.1511.

Draghi has had to balance the need for action to lift the euro zone economy out of its torpor against German concerns about risk-sharing and potentially being left to foot the bill.

Tensions broke out as the meeting got underway with French Finance Minister Michel Sapin firing a broadside at Berlin.

"The Germans have taught us to respect the independence of the European Central Bank," he told France Info radio. "They must remember that themselves."

A German lawyer who has been prominent in attempts to halt euro zone bailouts said he was already preparing a legal complaint against an ECB bond-buying programme.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国内精品久久久久久久 | 婷婷精品在线 | 天天人人 | 成人欧美一区二区三区黑人孕妇 | 久久88 | 日本一本久草 | 激情六月天 | 中文字幕午夜 | 午夜在线精品 | 欧美亚洲专区 | 99这里有精品视频 | 黄色av网址在线观看 | 毛片最新网址 | 性做爰过程免费看 | av软件在线观看 | 在线观看免费av片 | 日日夜夜操视频 | 免费日韩av | 性开放视频 | 欧美成人精品欧美一级乱黄 | 九九热这里有精品视频 | 日本不卡视频一区二区 | 亚洲一区二区免费视频 | 影音av资源 | 播播网色播播 | 青青在线精品 | 国产一区影视 | www中文字幕在线观看 | 日本天堂在线播放 | 伊人网在线视频观看 | 午夜短视频 | 日本久久久久久久久久久 | 日本亚洲国产 | 日韩中文字幕免费在线观看 | 91香蕉视频网 | 久久综合久久久 | 色婷久久 | 久久婷综合 | 中文字幕亚洲欧美日韩 | 999国产视频 | 日韩欧美高清 |