Europe's central bank buys $20B in bonds

The European Central Bank disclosed Monday it spent €14.3 billion ($20.3 billion Cdn.) last week buying government bonds.

The move was an attempt to stem Europe's government debt crisis until the eurozone's newly-strengthened bailout fund can step into the role. The purchases were less than the previous week's €22 billion but close to what markets had expected.

Buying Italian and Spanish bonds on financial markets has pushed down borrowing rates that could have financially ruined those countries.

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