The European Central Bank has made a final decision to launch the bond-buying program which will pump hundreds billion of euros into the sagging eurozone economy. The ECB President Mario Draghi said that the start of the quantitative easing program is scheduled for March this year, and it will run until the end of September 2016 despite objections from Germany. Bundesbank experts still believe that it was possible to allow some countries to ease the tough economic rules and demands of reforming. However, Draghi has been preparing for the program’s launch for a long time, and now something could hardly stop him. According to the schedule of the new program, €60 billion will be injected into the region every month. Given the rate selected, €1 trillion will be spent by September next year. "The budget for combined monthly bond-buying program of public and private sectors will amount to €60 billion. These purchases are intended to be carried out until end-September 2016, and will in any case be conducted until we see a sustained adjustment in the path of inflation," Draghi said at the press conference. A similar program was launched by the U. S. in 2009 after the global credit crunch. Officials of the Federal Reserve decided to buy securities in the amount of $4.5 trillion in three stages while its balance before the crisis was only about $600 billion. Experts agree that the need for serious actions is long overdue, and the ECB had to launch QE earlier, as now, when the situation has worsened, much more has to be done.
