European Central Bank Announces New Stimulus Plan

Published January 22, 2015 at 1:06 PM EST

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Mario Draghi, president of the European Central Bank, addresses the media during a press conference following the meeting of the Governing Council in Frankfurt am Main, western Germany, on January 22, 2015. (Daniel Roland/AFP/Getty Images)

Mario Draghi, president of the European Central Bank, today announced that the bank would begin a massive bond-buying program, in an attempt to reverse stagnation in eurozone economies.

The ECB will purchase 60 billion euros (or close to $70 billion) in bonds from eurozone countries. The amount is more than many analysts had been expected and the news was greeted favorably by financial markets.

Derek Thompson of The Atlantic discusses the move with Here & Now’s Jeremy Hobson.

Guest

Derek Thompson, senior editor at The Atlantic. He tweets @DKThomp.