New Bond-Buying Push Aims to End Euro Crisis The president of the European Central Bank Mario Draghi announced a new program today to make unlimited purchases of government bonds. Wall Street gave a thumbs up to the Euro moves - after the first hour of trading the Dow Jones index was up more nearly 200 points. The ECB will have the same status as other creditors for the bonds it buys. That means that if a country defaults on those bonds, it would take losses as well. The decision is meant to not scare investors away from the bonds the ECB buys. Speaking in Frankfurt, Draghi said the size of the bond purchases would be published weekly. A breakdown by country will take place monthly. Draghi said European governments needed to continue with deficit reductions and labor market reforms. Responding to German opposition to central bank bond purchases, Draghi said if a bailed-out country fails to meet its fiscal targets, the bank could stop buying its bonds. The ECB is forecasting the recession in the eurozone will continue with the economy shrinking by 0.4 percent this year before starting to grow in 2013. Richard Davies Business Correspondent ABC News Radio Twitter: daviesabc