ECB attempts to revitalise the Eurozone

10 Dec , 2014

The European Central Bank (ECB) has "stepped up" preparation for even more stimulation procedures focused on revitalising the eurozone economic climate, banking Head of state Mario Draghi has claimed.

His remarks followed the ECB held rate of interest at 0.05 %.

Mr Draghi also said that the bank would evaluate the influence of its existing stimulation procedures very early following year.

It was clear that Mr Draghi was giving the greatest sign yet that the ECB wanted to buy national debt.

The bank has, up until now, withstood pressure to follow in the footprints of reserve banks in the UK, as well as Japan by buying federal government bonds. Partly due to resistance from Germany, who said that acquisitions of this kind are beyond the ECB's remit.

Falling inflation as well as reduced economic growth have been consistent issues in the eurozone for the majority of this year.

Recent reports reveal the eurozone expanded by 0.2 % in the 3rd quarter of the year, as well as the price of rising cost of living fell back to 0.3 % in November from 0.4 % the previous month.

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