On Frankfurt's DAX, car-makers Daimler, BMW and Volkswagen contracted by 4.2%, 4.0% and 3.9%, respectively, while automotive supplier Continental was down by 5.2%. The FTSE 100 closed 1.78% lower, the DAX dropped 2.31% and the CAC-40 ended 1.70% lower. "This comprehensive package will exploit the synergies between the different instruments and has been calibrated to further ease financing conditions, stimulate new credit provision and thereby reinforce the momentum of the euro area's economic recovery and accelerate the return of inflation to levels below, but close to, 2%."