Euro Declines For Second Day as S&P Cuts Ratings, Greek Debt Talks Resume
The ECB bought Italian and Spanish government bonds today, according to four people with knowledge of the transactions, who declined to be identified because the deals are confidential.
Where's the ECB getting the money to make the loans to the entities buying up all those bonds....?
Wait a minute. The ECB is making the bond purchases directly now? Okaaaaay. Still wanna know where the ECB is getting the money to do it.