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European Central Bank president Mario Draghi.
European Central Bank president Mario Draghi.
(ALEX DOMANSKI/REUTERS)

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ECB reviews boost bond-buying plan’s credibility

Mario Draghi has said that his bond-buying program will be unlimited in principle, but the shop will temporarily close every quarter. The European Central Bank has said that it will hold fire while recipient countries – first of all Spain, maybe Ireland and Portugal – are under the scrutiny of the troika, expected to take two weeks or longer. Critics fear it may make interventions less effective, or boost volatility. But the concerns are overblown.