OK, over in Europe there's been a lot debate on what to do about the troubled currency. And today the European Central Bank announced a new plan to bolster the euro at a meeting in Frankfurt. Bank president Mario Draghi is under immense pressure to prevent the collapse of Europe's monetary union. The bank did not lower interest rates, as some investors hoped, but did unveil steps to ease the eurozone's debt crisis. NPR's Jim Zarroli is in Germany, following the events, and he joins us now. Good morning.
When the European Central Bank holds its monthly meeting today, investors around the world will be watching nervously to see what the bank's head, Mario Draghi, says about interest rates. Draghi was recently quoted as saying he would do whatever it takes to keep Europe's debt crisis from growing out of control, and that could go beyond just cutting borrowing rates.
As NPR's Jim Zarroli reports, any European Central Bank plan to use its resources to prop up Europe's weaker economies will face strong opposition from the Germans.
Let's follow up on another story. Earlier this year, five big banks settled the so-called robo-signing case, admitting they rushed the foreclosure processes for thousands of homeowners. Now, those banks are working to forgive and modify $20 billion worth of home loans.
As NPR's Yuki Noguchi reports, yesterday was the first chance to look at how banks are handling this part of the settlement.
YUKI NOGUCHI, BYLINE: Joseph Smith's first full report wasn't due until November, but he was eager to keep the issue top of mind.