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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Markets rally after ECB bonds announcement

World markets rallied after the eurozone's central bank pledge funds to lower debt-ridden countries' borrowing costs.

  • FTSE 100 Index rose more than 1% or 66 points at 5723.7
  • Dow Jones Industrial Average in the US was ahead 1.1%

European markets were more bullish:

  • Germany's Dax and France's Cac-40 up nearly 2%
  • France's Cac-40 up nearly 2%

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