ECB ‘ready to do whatever it takes’

The European Central Bank was ready to do 'whatever it takes' to support the euro, its President Mario Draghi said on the 26 July 2012.

Mr Draghi's strong message of support prompted a rally in European share markets and the euro.

The European Central Bank’s mandate allows it to fight excessive borrowing costs for eurozone countries, Mario Draghi said, sparking a market rally amid hopes the bank would intervene to buy sovereign bonds.

BBC News, 26.7.12: ECB will act to save euro, says Mario Draghi http://www.bbc.co.uk/news/business-18998083

Spiegel Online International, 26.7.12: Markets Surge after Draghi Vows to Protect Euro http://www.spiegel.de/international/europe/markets-surge-after-ecb-president-mario-draghi-vows-to-protect-euro-a-846629.html

France24, 26.7.12: ECB’s Mario Draghi vows to save the euro http://www.france24.com/en/20120726-european-central-bank-mario-draghi-pledges-save-euro-spain-italy-borrowing

Deutsche Welle, 27.7.12: Draghi pledges to stick behind euro http://www.dw.de/dw/article/0,,16125862,00.html

ECB: Press Release, 26.7.12: Speech by Mario Draghi, President of the European Central Bank at the Global Investment Conference in London 26 July 2012. Verbatim of the remarks made by Mario Draghi http://www.ecb.int/press/key/date/2012/html/sp120726.en.html

EUObserver, 27.7.12: ECB chief indicates upcoming help for Spain http://euobserver.com/19/117077

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