Euro crisis: ECB to buy bonds

The European Central Bank has announced plans to calm the euro crisis by buying struggling government bonds in return for "strict and effective" conditions.

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ECB giving 'effective backstop to the eurozone'

ECB chief Mario Draghi has said that the bank will publish weekly and monthly information on the bond purchases.

He also said that the announcement will give, "an effective backstop to remove risk from the euro area, but the ECB will retain it's independence throughout."

He added that; "we have given a framework to government, defined in broad lines, but it is up to the governments themselves to decide the precise shape."

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