ECB

For months now, Spain has been bracing itself for a bailout. While the country waits, the government has already made many of the deep budget cuts that typically come with bailouts.

European leaders meet in Brussels today for a summit on whether to enact a banking union across the EU and check in on beleaguered Greece.

In Europe, the latest signals are that Spain will not take a bailout in the immediate term. China's economic growth is slowing as investment takes a back seat to consumer spending.

Making good on earlier promises, European Central Bank chief Mario Draghi has unveiled a huge bond-buying program aimed at tackling the European debt crisis.

Target countries will have to agree to more austerity and economic reforms.

A survey out this morning shows that manufacturing in the eurozone has fallen for the 13th straight month -- not a great start to what will be a big week for the European Debt Crisis. On Thursday, the head of the European Central Bank, Mario Draghi, is expected to tell us what he meant when he said he'll do "whatever it takes" to save the euro.

Investors had been hoping that ECB President Mario Draghi would unveil something big to help solve the European debt crisis. Instead, Draghi offered only vague commitments.

In Frankfurt, the head of the European Central Bank Mario Draghi held a press conference. Everyone was waiting to see whether Draghi would announce new stimulus measures, after saying last week that he'd do whatever it takes to save the euro.

The head of the European Central Bank, Mario Draghi, is holding a press conference right now in Frankfurt. And global markets are hanging on his every word. That's because he said last week he'll do whatever it takes to save the euro, and today is the day we find out what that means.