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On May 6, 2010, the European Central Bank announced its decision to never buy sovereign and corporate debt. Four days later, on May 10, 2010, they announced a program to buy unlimited sovereign and corporate debt. That same day, the IMF and ECB announced a $957 billion loan program to “calm the markets.” This is probably one of those things they shouldn’t have considered buying because they couldn’t afford it and now they regret it.