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ECB Bond Purchases Are High-Stakes Gamble

"The crisis must be bad: The European Central Bank has resumed its mothballed bond-buying program. After lying dormant for months, the ECB's Securities Markets Program sputtered into life Thursday to buy Irish and Portuguese bonds, but not Italian and Spanish bonds, which lie at the eye of the current storm and whose yields actually rose. But this latest capitulation drags the central bank into potentially dangerous territory."

Read the full story at The Wall Street Journal

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