NPR Story
3:00 am
Thu December 15, 2011

Europe's Central Bank Maneuvers Debit Crisis Intervention

The European Central Bank has ruled out large scale bond purchases to save struggling countries from their mounting debts. But the ECB has said it will extend unlimited credit to European banks. Some observers say these low-interest bank loans could be a back door way to address the debt crisis. National banks would have a new source of cash to buy their home country's sovereign debt. NPR's John Ydstie reports.

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