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ECB announces €1 trillion bond-buying plan

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(Source: Black Listed News) – The European Central Bank will start buying bank securities worth up to €1 trillion between now and the end of theyear, president Mario Draghi has announced.

Speaking at a news conference following the monthly meeting of the ECB’s governing council in Naples on Thursday (2 October), Draghi said that the bank would buy covered bonds and asset-backed securities (ABS) in the final three months of 2014.

Although Draghi refused to give a precise figure on the total value of the purchases, he indicated that there were €1 trillion worth of bonds and ABS available on the market. – Read More – Black Listed News

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1 Comment

  1. More economic insanity. When this blows it’s gonna be big. China’s bubble is ready to burst, too. Think if America, Europe, and China go off all together? The fallout is gonna be huge.
    Might even be deadly.

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