Why Germany Isn't Happy About The ECB's New Stimulus Plan
The European Central Bank's dramatic new bond-buying program has Germany worried that fiscal reforms across the E.U. could stall.By Matt Picht | January 22, 2015
"Under this expanded program, the combined monthly purchases of public and private securities will amount to €60 billion," Mario Draghi said.
When the European Central Bank's president Mario Draghi announced a €1.1 trillion stimulus plan for the Eurozone Thursday, a huge sigh of relief swept through European and U.S. markets.
The plan, which involves the ECB creating 60 billion new euros each month until Sept. 2016, using the new cash to buy bonds from banks across the E.U., ended up being bigger than observers were expecting. It was enough to earn the ECB president his familiar title in the press: "Super Mario."