ECB to devise new tool to help indebted euro zone members
17 Articles
17 Articles
European Central Bank vows backstop against market turmoil
By The Associated PressThe European Central Bank vowed Wednesday to create an unspecified market backstop that could be used to buffer some countries against bond market turmoil similar to what shook the 19-country eurozone during a debt crisis more than a decade ago. The statement came after an unscheduled meeting of the bank’s governing council and aims to address a selloff in Italian and Spanish government debt in the wake of the bank’s decis…
ECB Prepares New Tool to Tackle Rising Borrowing Costs in Weaker Economies
The European Central Bank said it would create a new tool aimed at shielding weaker eurozone economies from higher borrowing costs as it raises interest rates, signaling to investors that the bank would stand behind the region’s embattled governments.
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