the ecb has decided to continue this program into 2011. we put the liquidity out there during crisis. we did not lose any money on these loans. this is the kind of thing you should do during a crisis. >> you mentioned the european crisis a couple of times. it spreads from one country to another. how much risk is there to the united states and what are you doing to understand those risks? >> the crisis has been ongoing and hit its most intense point in the april-may period of this year. this is going to roll on for some time. it takes time to put a fiscal program in place and for a country to regain credibility in the international financial markets. the various countries have made efforts to do the fiscal entrenchment with varying degrees of success. with ireland, it was not working as well as they had hoped. that has identified the situation. i think europeans are determined to keep europe together and keep the zero together in particular. markets may be underestimating the will of the europeans. they are determined. they put together pac

the ecb intends to almost double its reserves to 10.8 billion euros before the end of the year. about 21 billion will come from the bundesbanke. although, britain will also contribute. since may, they have bought 72 billion euros from greece, ireland and portugal. it is the first time in its 12 your lifetime, the ecb decided to increase its capital base, indicating the severity of the situation. >> spain's treasury sold 2.4 billion euros of 10 and 15 year government bonds in the last scheduled auction of the year. the spanish treasury says the sale was a success and demonstrated its ability to obtain fresh capital on the open market. madrid sis being forced to pay ever higher prices for its borrowing. the average yield rose to 5.4%. for the 15 year bonds, the average yield rose more than a full percentage point. to the markets. german shares finished with modest gains on thursday. some better than expected economic data of the united states. r correspondent sentence a summary of the thursday trading session. >> the rkets seem to be hypnotized by the eu's summit in brussels. the

the ecb intends to almost double its reserves to 10.8 billion euros before the end of the year. about 21 billion will come from the bundesbanke. although, britain will also contribute. since may, they have bought 72 billion euros from greece, ireland and portugal. it is the first time in its 12 your lifetime, the ecb decided to increase its capital base, indicating the severity of the situation. >> spain's treasury sold 2.4 billion euros of 10 and 15 year government bonds in the last scheduled auction of the year. the spanish treasury says the sale was a success and demonstrated its ability to obtain fresh capital on the open market. madrid is being forced to pay ever higher prices for its borrowing. the average yield rose to 5.4%. for the 15 year bonds, the average yield rose more than a full percentage point. to the markets. german shares finished with modest gains on thursday. some better than expected economic data of the united states. our correspondent sentence a summary of the thursday trading session. >> the markets seem to be hypnotized by the eu's summit in brussels. t

all eyes were on the ecb today. what is on cloud two shea had to say about purchase programs as well. -- what jean-claude trichet had to say about purchase programs today. he did not want to comment on how much. they are extending liquidity lines until the end of the first quarter. the crisis is totally over for siemens. they are posting record profit. that is something which people benefited most from because the salary is a whopping 9 million euros last year. >> looking at several markets in more detail, the dax closed up 1 and 1/3 percent. the euros on stocks actually closed up over 2%. in new york, investors are cheering. strong sales data from the automobile and the mortgage home lending sections. australian airline qantas was said to sue a rolls-royce for damages resulting from an engine failure on one of its airbus super jumbo jets. they have filed a claim in a federal court in australia over the financial and commercial -- of this incident. a panel has concluded that the failure was the result of manufacturi

all eyes were on the ecb today. what is on cloud two shea had to say about purchase programs as well. -- what jean-claude trichet had to say about purchase programs today. he did not want to comment on how much. they are extending liquidity lines until the end of the first quarter. the crisis is totally over for siemens. they are posting record profit. that is something which people benefited most from because the salary is a whopping 9 million euros last year. >> looking at several markets in more detail, the dax closed up 1 and 1/3 percent. the euros on stocks actually closed up over 2%. in new york, investors are cheering. strong sales data from the automobile and the mortgage home lending sections. australian airline qantas was said to sue a rolls-royce for damages resulting from an engine failure on one of its airbus super jumbo jets. they have filed a claim in a federal court in australia over the financial and commercial -- of this incident. a panel has concluded that the failure was the result of manufacturi

> read the then lend to ireland to repay the ecp -- rather than lend to ireland to repay the ecp -- ecbit not bit more sense to help ireland deleveraging by purchasing some assets directly? >> that we say this to my honorable friend -- let me say this to my honorable friend. i think this had to be part of a coordinated international effort with the imf and the other european member states. we have taken apart in that. we have our own the -- i do not think coming out with our own unilateral package would of been particularly easy with the imf organizing international effort. i've said earlier that we will, of course, want to look at the impact of the bank reorganization and banki reorganization in the ireland and some of the assets that are managed in the u.k.. i will keep the house informed about that. >> i welcome my right honorable friend's statement today. in particular, the investments to a new facility that the university -- at the university. with the chancellor agree with me tha byutting something into the science budget and coming to this house today and presenting figures of gr