Photo Gallery Draghi Disappoints the Markets
European Central Bank head Mario Draghi and his colleagues have come up with a new plan to buy the bonds of crisis-hit countries in a bid to fight the euro crisis. Under the new approach, the ECB would only intervene if governments committed themselves to reforms. But experts criticize the plan as dangerous and undemocratic.
European Central Bank head Mario Draghi disappointed the markets at a press conference on Aug. 2 where he failed to deliver the "big bazooka" they had hoped for.
Foto: Michael Probst/ AP
Draghi and his colleagues have come up with a new plan to buy the bonds of crisis-hit countries. Under the new approach, the ECB would only intervene if governments committed themselves to reforms. Here, the ECB's new headquarters in Frankfurt.
Foto: Boris Roessler/ dpa
German Finance Minister Wolfgang Schäuble (seen here with US Treasury Secretary Timothy Geithner on July 30) was kept in the loop about the new plan.
Foto: Daniel Reinhardt/ dpa
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