The ECB unveiled a trillion-euro stimulus plan

The European Central Bank has unveiled an aggressive stimulus plan for the eurozone economy, the total cost of which is estimated at 1.14 trillion euros. The plan of the ECB, among other measures, provides for the issue of 60 billion euros per month during the period from March 2015 to September 2016, which will be used mainly to buy government bonds of eurozone member countries.

The ECB's proposed quantitative easing program is the most ambitious step ever taken by a European regulator to fight deflation and stimulate growth in the eurozone economy.

Prior to the ECB's stimulus plan, experts had expected the regulator to buy back only 50 billion euros in government bonds every month.

"The plan is calculated until September 2016, but, in any case, will remain in effect until we see significant changes in inflation," said the head of the ECB, Mario Draghi (English).

German wave

• After the ECB presented its economic stimulus plan, major indices began to rise on the stock exchanges of the eurozone countries. At the same time, the exchange rate of the European currency fell against the dollar to a multi-year low - for the American currency they give 1.15 euros.
• The quantitative easing program has been in place for several years in the United States. The US Federal Reserve announced the end of the program, introduced in 2008, at the end of 2014.