The ECB and eurozone governments are preparing to take co-ordinated action to buy government...

|By:, SA News Editor

The ECB and eurozone governments are preparing to take co-ordinated action to buy government bonds in an attempt to bring down borrowing costs for Spain and Italy, Le Monde reports. The eurozone, via the EFSF and ESM rescue funds, would purchase debt directly from government and the ECB would act in the secondary market. The speculation comes a day after Mario Draghi's "whatever it takes" comment.