ario Draghi, the president of the European Central Bank, on Thursday announced a new bond-buying program intended to aid debt-saddled countries and shore up the embattled euro currency. The plan would see the ECB buy bonds directly from Spain, Italy, and other countries in a bid to lower national borrowing costs that have risen to perilously unaffordable levels. Draghi said the move would provide a "fully effective backstop to prevent potentially destructive scenarios," and dispel "unfounded" fears that the euro is on the brink of dissolution. The plan is the latest in a series of measures taken by European institutions to resolve the years-long euro crisis, which has weighed heavily on the U.S. and global economies.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why we can't stop procrastinating, according to science
- Why would a young person today be religious?
- 31 TV shows to watch in 2014
- He said he was leaving. She ignored him.
- Why Holy Thursday is so important to Christians
- How Captain America won over China
- Why I'm a pro-life liberal
- Texas has been holding this man hostage for 12,600 days
- Israel and Russia are getting along. Have the neocons noticed?
- 3 ways elephants and neuroscience can help you make better decisions
Subscribe to the Week