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Economy & Jobs 06-09-2012

ECB’s Draghi presents eurozone rescue plan

This is the man who claimed he can save the euro. After weeks of uncertainty, European Central Bank's chief Mario Draghi on Thursday unveiled a much-awaited bond-buying plan. The scheme includes buying 'unlimited' amounts of short-term government debt from troubled countries and it is designed to lower the borrowing costs of Italy and Spain. Draghi also said the scheme was a "fully effective backstop" and that the euro was "irreversible".