.....Advertisement.....
.....Advertisement.....

European Central Bank extends special crisis measures

-A A +A
By Associated Press

LONDON (AP) — The European Central Bank stepped up efforts to contain the continent's government debt crisis, as bank president Jean-Claude Trichet announced it would prolong measures to provide ready cash to banks and steady the financial system.

Markets were initially disappointed Thursday when Trichet did not say the bank would go even further and increase its purchases of government bonds. The euro sagged almost a cent during his news conference.

But it quickly bounced back, trading higher on the day on market chatter that the bank might in fact be quietly buying bonds of financially troubled eurozone countries — despite Trichet's reticence on the issue.

By late-afternoon London time, the euro was trading 0.2 percent higher on the day at $1.3164.

Additionally, the ten-year bonds of both Ireland and Portugal suddenly rose.

For the Portuguese government, that's a big relief as it struggles to keep borrowing costs from climbing out of reach and having to follow Greece and Ireland in seeking a bailout from its partner governments in the euro and the International Monetary Fund.

"This gave the impression of increased activity on behalf of the ECB in those markets," said Elwin de Groot, an economist at Rabobank International.


If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
info
Street Address:
(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:



Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday