Thursday, May 07, 2009


ECB to buy billions of euros of debt in radical policy departure
The ECB has faced fierce criticism that it's not doing enough to combat a recession that is hitting export-led economies including Germany as much as economies - such as Ireland and Spain - where housing bubbles have burst in spectacular fashion. The policy departure also represents a defeat for Germany, where Axel Weber, the head of the Bundesbank, has resisted any move to buy debt.

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