ECB

My worst fears about the potential loss of confidence in our leaders, institutions, and capitalism itself are being realised. We have been digging this hole for a long time.

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Now is not the time to be swayed by high-frequency newsflow and economic data, writes Philip Lawlor, group strategist at Smith & Williamson.

AN EVENTFUL WEEK

The European Central Bank said last night it would "actively implement" its controversial bond-buying programme to fight the eurozone's debt crisis, signalling it will buy Spanish and Italian government bonds.

Investment Week and our sister title Investment Europe provide ongoing updates on the turmoil in global markets as investors fret over the US and European debt crises.

Threadneedle's Philip Dicken says a bleak European outlook is is cause for caution, but not excessive negativity.

The European Central Bank (ECB) has voted to hold interest rates and will boost liquidity in the eurozone in an attempt to prevent the sovereign debt crisis from spreading to Italy and Spain.

Inflation in the eurozone dropped 0.2% to 2.5% in July, surprising analysts who had expected the figure to remain unchanged.

EU leaders have agreed a further €109bn (£96bn) bailout for Greece, one-third of which will come from private sector bondholders.