Mario Draghi (C), president of the European Central Bank (ECB), and ECB vice-president Vitor Constancio (2nd L) leave after giving a press conference in Frankfurt am Main, western Germany, on June 3, 2015. AFP PHOTO / DPA / FRANK RUMPENHORST
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European Central Bank head Mario Draghi said the bank's 1.1 trillion euro ($1.2 trillion) stimulus program is supporting the eurozone's modest recovery as the money works its way through the financial system to the real world of businesses and consumers.Draghi said the improved outlook assumed that the bank would carry out the full measure of its stimulus program, which is technically called quantitative easing. The bank is pushing 1.1 trillion euros of newly created money into the economy through 60 billion euros in monthly purchases of government and corporate bonds.Draghi sought to dispel any suggestion that a brightening economic picture could lead the bank to prematurely scale back the bond purchases before the full 1.1 trillion euro goal is accomplished in September 2016 .The ECB is a key player in Greece's financial drama as it has been letting the country's banks tap emergency credit that they can't get elsewhere.
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