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According Advocate General Pedro Cruz Villalon of the EU Court of justice in Luxembourg the ECB's Outright Monetary Transactions program is "in principle" in line with European law backing Mario Draghi who said that the ECB is determined to fulfill its mandate and is ready to buy government bonds to revive Eurozone's inflation. The news led to a sell off of the euro versus the greenback, trading at nine-year lows.
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