FRANKFURT, Germany: The European Central Bank says it will "actively implement" a bond-purchase program that could boost Spanish and Italian bonds and drive down interest yields that threaten those countries with financial disaster.
Sunday's statement from bank President Jean-Claude Trichet comes as global finance officials discussed ways to ward off more turmoil ahead of the opening of financial markets on Monday, the first substantial trading after the U.S. lost its triple-A bond rating from Standard & Poor's on Friday.
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