ECB Chief Vows Action To Save The Euro

NEW YORK — Stocks soared in the U.S. and Europe Thursday after the European Central Bank president vowed to “do whatever it takes” to keep the continent’s monetary union intact.

The Dow Jones industrial average jumped 211 points, or 1.7 percent, to 12,887 as of 3:20 p.m., following European markets sharply higher. Benchmark stock indexes surged 6 percent in Spain and Italy and 4 percent in France.

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Translation: The ECB chief is threatening massive monetary intervention.. in other words money printing.