REVEALED: Desperate EU Bosses Splurge €1TRILLION on Bonds to Prop Up Ailing Eurozone

• REVEALED: Desperate EU Bosses Splurge €1TRILLION on Bonds to Prop Up Ailing Eurozone
  by ALIX CULBERTSON, http://www.express.co.uk/  
  THE European Central Bank (ECB) has splurged almost €1trillion on bonds in the last 18 months in a desperate bid to prop up the ailing eurozone.
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  Shocking new figures show ECB bosses have spent £822billion (€958bn) buying up bonds since March 2015, hoping to lower borrowing costs and spark growth. They are acquiring government and corporate bonds worth £15.3bn (€17.8bn) every week, with the scheme set to end next March. The astonishing number of bonds being purchased every seven days means each one of Germany’s 80m-strong population could have four bottles of Veuve Clicquot champagne – worth £188 – a week. The majority of the ECB’s corporate bonds – 32 per cent – have been bought from France, while 25 per cent have come from Germany and 13 per cent from Italy.
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  Six per cent come from the Netherlands and five per cent from Belgium, while 19 per cent have been bought from a combination of countries.
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  While some of the bonds are strong investments, the ECB is gambling with European Union (EU) cash by purchasing bonds deemed risky. Bonds bought from Lanxess, RWE, Metro and K+S have all been marked as BBB- by financial rating agency Standard and Poor’s. The ECB has promised to reach a two per cent level of inflation by March next year, but with inflation at 0.2 per cent this month, the end goal is looking unlikely.
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