Draghi: ECB Will Do Everything to Boost Euro

Finance | July 26, 2012, Thursday // 20:25|  views

Financial markets have reacted favorably to a strong commitment on the part of European Central Bank President Mario Draghi to support troubled eurozone countries.

"The ECB will do everything to to safeguard the euro," stated Draghi at an investment press conference Thursday.

This has been interpreted by analysts as saying that the European Central Bank might resume exerting influence in sovereign bond markets to keep under control Spain and Italy's spending to cover loans.

In his statement, Draghi pointed out that such interference, including the capacity to influence interest rates, would be fully within the mandate of the European Central Bank.

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Tags: European Central Bank, euro, Eurozone, ECB, Mario Draghi, Spain, Italy, sovereign bonds, interest rates


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