{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='UK, Germany, Portugal, Israel markets open, ECB exterior' data-url='/boclips/videos/5c54becad8eafeecae13e557' data-video-url='/boclips/videos/5c54becad8eafeecae13e557' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUK, Germany, Portugal, Israel markets open, ECB exterior\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eFrankfurt, Germany1. Exterior of European Central BankLondon, UK2. Pan across office of BGC Partners to Market Analyst Louise Cooper at desk3. Various of traders4. Zoom into computer screen5. SOUNDBITE: (English) Louise Cooper - Market...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eFrankfurt, Germany\u003cbr/\u003e1. Exterior of European Central Bank\u003cbr/\u003eLondon, UK\u003cbr/\u003e2. Pan across office of BGC Partners to Market Analyst Louise Cooper at desk\u003cbr/\u003e3. Various of traders\u003cbr/\u003e4. Zoom into computer screen\u003cbr/\u003e5. SOUNDBITE: (English) Louise Cooper - Market Analyst, BGC Partners:\u003cbr/\u003e\"Late last night at about eleven o''clock London time last night the ECB came out and said they would be buying essentially Italian and Spanish bonds. So they want to bring the interest rates, the borrowing costs, of those two governments down. And we''ve seen that dramatically this morning. On Friday the ten year yield on Italian and Spanish debt, the borrowing costs for ten year money for Italy and Spain, was over 6 percent, 6.1, 6.2 percent. Dramatically that''s come down to 5.3 percent for Italy and 5.5 percent for Spain. So a huge move in the borrowing costs for these two countries thanks to the European Central Bank''s intervention, buying up their bonds.\"\u003cbr/\u003e6. Cooper at computer terminal\u003cbr/\u003eLisbon, Portugal\u003cbr/\u003e7. Close of  screen showing graphic reading (English) \"HOW RISKY IS SPANISH DEBT?\" \u003cbr/\u003e8. Various of brokers and screens in trading room at GoBulling\u003cbr/\u003e9. Various of GoBulling trader, Pedro Olivera\u003cbr/\u003e10. SOUNDBITE: (Portuguese) Pedro Olivera, GoBulling trader:\u003cbr/\u003e\"(The news) is positive, the European Central Bank said it will intervene in the market buying Spain and Italy''s debt, so those countries (their economies) will get better.\"\u003cbr/\u003e11. Mid of trader\u003cbr/\u003eFrankfurt, Germany\u003cbr/\u003e12. Various of Frankfurt Stock Exchange and traders \u003cbr/\u003e13. Close of display \u003cbr/\u003e14. SOUNDBITE: (German) Robert Halver, Head of Market Research, Baader Bank: \u003cbr/\u003e\"Not a ''Black Monday'', the markets are ready to accept that especially the ECB is doing everything in its power so that Italy is not going to fail. Italy is the neuralgic point of the Euro crisis. Italy can not fail and the ECB will not let it fail. It will buy Italian bonds on a massive scale if it has to and the G7 has clearly said that liquidity measures will be taken so all that is a wonderful ER (emergency room). The best doctors and ''Doctor'' Trichet (European Central Bank President Jean-Claude Trichet) in the lead are stabilising the market. The most important thing though is that the politicians are making sure that the patient - the markets - is getting back on its feet. You can not save the markets with liquidity alone.\" \u003cbr/\u003eRamat Gan, Israel\u003cbr/\u003e15. Pan left of trading room at Excellence Nessuah investment company\u003cbr/\u003e16. Close up of ticker \u003cbr/\u003e17. Setup shot of Daniel Rapoport, head of trading at Excellence Nessuah investment company\u003cbr/\u003e18 . SOUNDBITE: (English) Daniel Rapoport, head of trading at Excellence Nessuah investment company:\u003cbr/\u003e\"The Israeli market is bouncing over 2 per cent from the 7 per cent slump yesterday as the European markets opened better than we had expected. Investors are still nervous. We are seeing the markets fluctuating quite aggressively but the ECB and the Americans are looking to calm investors and look better going ahead. We are happy with the volumes. Investors are not panicked and they are picking, like cherry picking, looking at the names that they think dropped more than they should have and buying.\"\u003cbr/\u003e19. Pan of trading room\u003cbr/\u003e20. Close of trader\u003cbr/\u003e21. Entrance to Excellence Nessuah investment company\u003cbr/\u003eA European Central Bank pledge to buy up Italian and Spanish bonds slashed the two countries'' borrowing costs but most global stock markets sank again on Monday following the downgrade of US debt by Standard \u0026amp; Poor''s.\u003cbr/\u003eEuropean markets lost early momentum and most were trading sharply lower amid mounting fears over the opening of US markets, when traders will have their first chance to respond to the S\u0026amp;P''s decision to lower its triple A rating for the US.\u003cbr/\u003eInvestors are thought to be concerned about the state of the world economy and policymakers'' ability to deal with the European debt crisis\u003cbr/\u003eThose concerns trumped any relief European markets got from the sharp fall in Italian and Spanish bond yields after the European Central Bank said it would buy the two countries'' bonds in order to help them avoid devastating defaults. \u003cbr/\u003eThe yield on Italy''s ten-year bonds fell 0.66 percentage point to 5.32 percent while Spain''s tumbled 0.82 percentage point to 5.22 percent.\u003cbr/\u003eIn Europe, Britain''s FTSE 100 index of leading British shares was down 1.7 percent at 5,160 while France''s CAC-40 fell 2 percent to 3,214. Germany''s DAX was 2.3 percent lower at 6,096.\u003cbr/\u003eSentiment in Europe has not been helped at all by the expected sell-off at the US open - Dow futures were down 2.1 percent at 11,167 while the broader Standard \u0026amp; Poor''s 500 futures fell 2.4 percent to 1,168.\u003cbr/\u003ePolicymakers around the world, many on holiday, are trying to come up with a strategy to shore up market worries over the global economy and the levels of debt in the US and Europe.\u003cbr/\u003eLate on Sunday, the European Central Bank (ECB) said it would \"actively implement\" its bond-buying program to calm investor concerns that Italy and Spain won''t be able to pay their debts. \u003cbr/\u003eLast week, worries over the two countries'' ability to keep tapping bond markets contributed to the turmoil in global markets, which saw around $1.5 trillion wiped off share prices.\u003cbr/\u003eOn Monday, British market analyst Louise Cooper said the effect of the ECB intervention had resulted in a \"huge move in the borrowing costs for these two countries (Italy and Spain) thanks to the European Central Bank''s intervention, buying up their bonds.\"\u003cbr/\u003eThe ECB action was also welcomed in Germany and Portugal.\u003cbr/\u003eSeeking to avert panic spreading across financial markets, the finance ministers and central bankers of the Group of 20 industrial and developing world also issued a joint statement on Monday saying they were committed to taking all necessary measures to support financial stability and growth.\u003cbr/\u003eSo far, the S\u0026amp;P downgrade doesn''t seem to be having too much of an impact on US government bonds, known as Treasuries. \u003cbr/\u003eThe worry has been that the downgrade would prompt investors to demand more, but the yield on ten-year Treasuries has actually fallen.\u003cbr/\u003eEarlier in Asia, the repercussions of S\u0026amp;P''s downgrade weighed on stock markets.\u003cbr/\u003eAmong the major markets, Japan''s Nikkei 225 stock average closed down 2.2 percent 9,097.56, while Hong Kong''s Hang Seng fell the same rate to 20,490.50. \u003cbr/\u003eSouth Korea''s Kospi ended 3.8 percent lower as did China''s main exchange in Shanghai.\u003cbr/\u003eIn the currency markets, the euro was flat at $1.4308 while the dollar was down 0.8 percent at 77.69 yen.\u003cbr/\u003eFears over the global economy are having a major impact on oil markets, with the main New York rate down another $2.87 to $84.01 a barrel.\u003cbr/\u003eMeanwhile stocks in Tel Aviv''s exchange rebounded Monday after a sharp fall in the benchmark index on Sunday following Standard \u0026amp; Poors'' downgrade of the US credit rating.\u003cbr/\u003eThe exchange''s leading index was up 2.2 per cent less than an hour into trade.\u003cbr/\u003e\"The Israeli market is bouncing over 2 per cent from the 7 per cent slump yesterday as the European markets opened better than we expected. Investors are still nervous. We are seeing the markets fluctuating quite aggressively but the ECB and the Americans are looking to calm investors and look better going ahead,\" said Daniel Rapoport, head of trading at Excellence Nessuah, an investment company in Ramat Gan, Israel.\u003cbr/\u003eThe Israeli exchange operates on a Sunday through Thursday schedule and was one of the first worldwide to react to the S\u0026amp;P downgrade, issued late on Friday.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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