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 purchas...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.