Business News
ECB buys 22 billion euros of government bonds
Aug 15, 2011, 13:54 GMT
Frankfurt - The European Central Bank (ECB) announced it bought up Monday a massive 22 billion euros' (31.5 billion dollars) worth of bonds issued by the most highly indebted eurozone governments.
The move, aiming at steadying reeling markets, raised ECB holdings of such bonds to 96 billion euros.
The ECB portfolio began with Greek, Portuguese and Irish debt and has since been extnded to Spanish and Italian bonds which have come under market pressure.
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