ECB European Central Bank

European Central Bank: Yields on 10-year Greek government bonds also rose sharply, up 1.1 percentage points to 7.73 percent on Wednesday, suggesting renewed doubts about the eurozone solvency, according to Deutsche Welle. This followed the start of a European Court of Justice case examining whether it permissible for the European Central Bank to buy up state debt from eurozone countries. This measure, not yet used by the ECB despite being announced as a possibility in 2012, is seen as the last line of defense against a government default and European indices closed with large losses on Wednesday, led by a nosedive on Greece main stock index, which plunged 6.3 percent to a 14-month low. Prior to a late afternoon rally in Athens, the numbers had briefly appeared even worse. Investors appear opposed to Greece plans for an early 'bailout' exit (news.financializer.com). As reported in the news.