The European Central Bank enters monetary policy territory: It starts the highly controversial, mass purchase of government bonds. The Fed releases so that a new flood of money from – and is a high risk
+++ +++ prepared first action .
+++ cheering on the financial +++
+++ ECB launches new flood of money? +++
+++ debt countries hope to harsh criticism from Germany +++
21.24 Clock: The euro fell to its lowest level against the dollar for more than eleven years after the decision on the bond purchase program of the European Central Bank (ECB). On Thursday evening at 19.45 clock the single European currency was worth only $ 1.1375. So cheap the euro in early September 2003 was last before the ECB announced its program, the euro stood at $ 1.1620
20.22 clock. DIW President Marcel Fratzscher has announced today the extensive bond purchases by the European Central Bank (ECB) defended, they have also evident that there are all possibilities for action had been exhausted. “This is indeed a game with fire, there are risks, but it is also a necessary evil. This program is the last option for the ECB lending to households and businesses to improve so that Europe out of the crisis comes, “said Fratzscher expressed in the show” Phoenix “round the TV station Phoenix
19.12 clock. The ECB is, according to its chief Mario Draghi, moreover, only government bonds buy, which may have a so-called “investment grade” ranking. This means that bonds of bankrupt states such as Greece are not covered by the program.
18.03 Clock: The Dax has responded with a new record high on the decision of the European Central Bank (ECB). With 10,435 points reached until the close of trading at 17:45 clock a Höchstand. This was 1.3 percent higher than the previous day
17.48 clock. The criticism of the decision of the ECB accumulates. The CSU politician and longtime critic Peter ECB Gauweiler complained that the central bank overstepping its mandate. He also called on the Federal Government to the European Court. “In the event that the federal government fails to act, We prepare your own actions before .”
He added: If the limit collective liability represent 20 percent that the remaining 80 percent of the bonds be done by the central banks of the countries concerned for his own account, was the “a great success of our efforts so far.” However, “This partial success may not lead to accepting all remaining violations of law.”
17.05 Clock: The stockbrokers still celebrate. The Dax is now at 10,433 points, the MDax rises to 18,240 points. At the same time the euro continues to fall and noted only at $ 1.1423 per euro.
The promulgation of the multi-billion dollar purchase program of the European Central Bank (ECB) also boosted dei US stock exchanges. The leading index Dow Jones, in the 30 major US companies are listed, 0.6 percent is now at 17,664 points in positive territory. The broader S & P 500 rose 9.57 points to 2032 points, the technology index Nasdaq 100 won 0.76 percent to 4223 points