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European Central Bank to buy more eurozone bonds
Business digest: Analysts expect ECB to buy the bonds of struggling Italy and Spain
The European Central Bank has said that it will buy more eurozone bonds, as global stock markets continued to plummet in the wake of decreasing confidence in Italy and Spain's ability to keep up repayments on their sovereign debts.
The ECB did not state which countries it would be buying from, but analysts expect them to be from Italy and Spain. Last week the ECB bought bonds from Portugal and Ireland.
Both Italy and Spain maintain that they are able to pay off their debts, and have implemented austerity cuts in an attempt to cut their budget deficits.
The ECB praised the "decisive and swift" action taken by the two countries.
Read a full report at BBC News. ·
