European Central Bank European Bailout Plan Explained in English

Yesterday, the European Central Bank (ECB) made a decision to lend support to the troubled economies of the Eurozone, by initiating a bond buying program that is likely to be practically unlimited in scope. The action indicated an attempt to wrestle the region’s long-festering debt problems to the ground. The European Central Bank and the sovereign countries are to be working together to help restore their economies, which are facing huge debt levels. These have become so high that servicing them for their interest and principal repayments is becoming extremely difficult. In a vicious circle, these difficulties have an impact on the…