Eurozone debtors praise ECB’s bond-buying plans

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Italy, Spain and France have urged the EU to ease its monetary policy for months, so that their government bond interest rates would drop. It comes as no surprise that debtor states are welcoming the ECB’s decision. Italian Prime Minister Mario Monti said the decision of the European Central Bank (ECB) to buy up government bonds from fiscally-challenged eurozone countries was an “important step forward … towards a more satisfactory governance of the eurozone.” Monti spoke during a press conference with European Commission head Jose Manuel Barroso on Thursday night in Rome – on Friday, Italian newspapers reported that Monti had never before looked so contented. Interest rates on long-term…

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