FILE - In this May 31, 2012 file picture President of the European Central Bank Mario Draghi reports to the Economic Committee, in capacity as the head of the European Systemic Risk Board, at the European Parliament in Brussels. European Central Bank president Mario Draghi has already taken Europe's monetary authority into uncharted territory. Now, with the debt crisis in Europe threatening further disaster, he may have to push it even farther into the unknown to save the euro. The 17 countries that use the euro are struggling as economies across the region face deepening recessions. Spain and Italy, the two chief trouble spots, are threatened with a financial collapse that could tear the 13-year old currency union apart and rock the global economy. (AP Photo/Yves Logghe,File)
FILE - In this May 31, 2012 file picture President of the European Central Bank Mario Draghi reports to the Economic Committee, in capacity as the head of the European Systemic Risk Board, at the European Parliament in Brussels. European Central Bank president Mario Draghi has already taken Europe's monetary authority into uncharted territory. Now, with the debt crisis in Europe threatening further disaster, he may have to push it even farther into the unknown to save the euro. The 17 countries that use the euro are struggling as economies across the region face deepening recessions. Spain and Italy, the two chief trouble spots, are threatened with a financial collapse that could tear the 13-year old currency union apart and rock the global economy. (AP Photo/Yves Logghe,File)
FILE - In this July 5, 2012 file photo President of the European Central Bank Mario Draghi speaks during a news conference in Frankfurt, central Germany. Draghi said in an interview with French daily Le Monde posted on the bank's website Saturday, July 21, 2012, that predictions of a eurozone "explosion" underestimate "the political capital that our leaders have invested in this union, as well as the support of European citizens." (AP Photo/dapd, Mario Vedder, File)
FRANKFURT, Germany (AP) ? European Central Bank head Mario Draghi says the bank may intervene in the bond market to drive down countries' high borrowing rates.
Draghi said the bank could do that to drive down high bond interest rates that are out of line with ECB policies ? including those of Spain and Italy.
The bank "may undertake outright open market operations of a size adequate to reach its objective," he said.
He added that eurozone officials should "stand ready" to also use their bailout fund in the bond market.
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