European Central Bank president Mario Draghi said the central bank would do whatever it takes to preserve the euro.
Speaking at an investment conference in London, Draghi's comments suggest the ECB may start buying bonds again in an effort to help bring down skyrocketing borrowing costs.
"His comments certainty suggest that ECB purchases of Spanish and Italian bonds are back on the table, as is another LTRO," said Chris Scicluna, deputy head of economic research at Daiwa Capital Markets. Long-term refinancing operation, or LTRO, is the ECB's cheap lending program for banks aimed at preventing a credit crunch.
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