Europe gambles to save currency union

ecb-office-frankfurt

The European Central Bank (ECB) on Monday reversed a long-held position and said it would buy government bonds as the eurozone and IMF unveiled a €720 billion ($931 billion) support package for member states.

Markets were buoyed by the announcement, with all major European bourses gaining by midday. The FTSE 100 index of leading shares listed in London picked up 4.71%, while the CAC 40, the Parisian equivalent, gained 9.17%. Frankfurt's Dax index also leapt 4.72% by 13:45 in London. US futures i

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