The bank has set no limit to the volume of bonds it will purchase under the new programme.
“As we said a month ago, we need to be in the position to safeguard the monetary policy transmission mechanism in all countries of the euro area,” said Draghi.
Draghi also reiterated his pledge to do “whatever it takes” to save the euro. “We will do whatever it takes” to keep the 17-nation block together, he said. “Unfounded fears are just what they are, unfounded.”
Reuters and AFP