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ECB loads the ‘big bazooka,’ agrees to buy government bonds, if needed, for those countries following rules
The European Central Bank moved decisively Thursday in announcing that it would buy the bonds of struggling governments without limit, an initiative that could save the euro zone and blunt one of the main threats menacing the global economy.

The unprecedented step, meant to reassure fearful investors that euro-zone governments would not default, sparked a rally on world stock markets. U.S. stock indices posted their largest gains in weeks, with the S&P 500 soaring 2 percent and closing at a four-year high.

http://www.washingtonpost.com/business/economy/ecb-loads-the-big-bazooka/2012/09/06/a4ff5a2a-f814-11e1-8b93-c4f4ab1c8d13_story.html