President of the European Central Bank Mario Draghi
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Bond-buying plan to stabilise euro

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.

In July, Mr Draghi had said that he would do "whatever it takes" to save the euro.

The ECB wants to help cut the borrowing costs of debt-burdened eurozone members by buying their bonds.

Mr Draghi said the ECB would engage in outright monetary transactions, or OMTs, to address "severe distortions" in government bond markets based on "unfounded fears".

  • 06 Sep 2012
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