The new head of the European Central Bank signaled on Thursday it stood ready to act more aggressively to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone. The ECB it is under huge political and market pressure to massively step up purchases of euro zone government bonds or lend money to the IMF to support ailing Italy and Spain.
As previously discussed, Europe is under serious political pressure to improve their economic standing, especially from Obama as well as other European leaders.
