The European Central Bank disclosed Monday that it had bought 16.5 billion euros in bonds in the first week since taking the unprecedented step of intervening in markets to halt a sell-off of Greek and other European debt.
The bank did not say which countries’ debt it was buying, how much it would spend in the future, or whether it bought any corporate bonds. The 16.5 billion euros ($21 billion) was considered a relatively small amount for the market.
Analysts said the bank would want to keep investors guessing to maximize the psychological impact of the move.
If you paw through the article, you'll see they restored the scary Trichet quotation about markets having started to shut down last week.