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ECB Plan Pushes Euro to New Lows

Government borrowing rates across Europe fell to historic lows and the bloc’s single currency tumbled against the dollar on Thursday after the European Central Bank president Mario Draghi outlined plans for a trillion-euro full-scale bond-buying program in attempt to revive the ailing euro zone economy.

ECB President Mario Draghi said the central bank is to launch a private and government quantitative easing (QE) program, buying 60 billion euros of bonds a month from March — more than previously expected.

The plan will run until September 2016, Draghi said at press conference at the ECB headquarters in Frankfurt and bonds issued by European institutions will be subject to risk-sharing, he said

CNBC [1]

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