ECB president had announced earlier today that except the historical reduction of interest rates, ECB intends to buy securitizations ( Asset Backed Securities) from October or even 500 billion euro worth of state bonds.
Based to the above announcements of the Italian Banker, according to analysts if the intervention concerned only business loans, then that would have been insufficient to stimulate the wider European market.

However, with the decision of the program to be extended in the purchase of securitizations of housing loans, ECB is expected to benefit in a bigger scale and more importantly the European economy and mainly the south countries, of which their banks are largely exposed to such securities.