Europe jumps off easy money train

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Mario Draghi puts pressure on Berlin and Paris to shore up eurozone.

An era has ended at the European Central Bank.

On Thursday, European Central Bank President Mario Draghi announced that the bank would stop its massive bond-buying program at the end of December.

The President of the European Central Bank (ECB) Mario Draghi gives a press conference following the meeting of the Governing Council of the European Central Bank in Riga, Latvia, June 14, 2018. - The euro fell against the dollar after the European Central Bank said it expected interest rates to remain at their current record lows until well into 2019. (Photo by Ilmars ZNOTINS / AFP) (Photo credit should read ILMARS ZNOTINS/AFP/Getty Images)

The President of the European Central Bank (ECB) Mario Draghi gives a press conference following the meeting of the Governing Council of the European Central Bank in Riga, Latvia, June 14, 2018. – The euro fell against the dollar after the European Central Bank said it expected interest rates to remain at their current record lows until well into 2019. (Photo by Ilmars ZNOTINS / AFP) (Photo credit should read ILMARS ZNOTINS/AFP/Getty Images)

The policy, known as quantitative easing or QE, has seen the ECB buy €2.4 trillion worth of government debt in the last three years to help pull the eurozone out of recession.

Draghi is now signalling to eurozone governments that his job is done and that they must pick up the…

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