In another difference from the SMP approach, the new bond-buying will happen only for states which will almost certainly end up including Spain and quite probably Italy that have secured assistance from the ESM.
ECONOMIST: Has Mario Draghi done what it takes to save the euro?
He wants it to form a coherent part of the ECB's monetary policy machinery, rather than an awkward add-on, like the SMP.
BBC: Draghi will do what it takes (give or take)
It means that future bond purchases - if they happen - will not involve the Securities Markets Programme (SMP).
Mr Draghi said they would involve short-dated debt - not the longer term government bonds included in the SMP.
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