Bond markets rally as ECB moves on Italian and Spanish debt
The European Central Bank (ECB) has signalled its intention to broaden its bond purchase programme to include Italian and Spanish paper in a bid to ease market tensions and stave off the threat of contagion.
In a statement released on Sunday, the ECB's Governing Council said it welcomed the new fiscal reforms and structural measures agreed to by Italy and Spain, adding that a decisive and swift implementation of the measure would rapidly reduce public deficits. In light of these events, and the
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