The cries heard around the world for the ECB to put an end to the sovereign debt crisis in Europe by aggressively purchasing the sovereign bonds of nations such as Italy, Portugal and Spain have become deafening.
Finance ministers and heads of state from nations as diverse as Great Britain, Portugal, Russia, Italy and the United States have expressed their growing exasperation with ECB reticence to contain a crisis that threatens to throw the entire global financial system and economy into a tailspin.
Many financial commentators have taken the view that since the consequences of inaction would be so dire, the ECB will inevitably relent.
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