News Summary: ECB says 'no room for complacency'

News Summary: ECB notes that financial crisis has eased but there's 'no room for complacency'

Associated Press

STAY ALERT: European Central Bank officials say there is "no room for complacency" even though debt stress on banks and financial markets has eased.

NOT OUT OF WOODS: The central bank warned that failure by governments to reduce deficits and improve growth risked worsening the situation again.

BOND BRIGHT SPOT: Bond markets have improved dramatically since the ECB vowed in July to do "whatever it takes" to save the euro. The ECB then outlined a plan under which it would buy unlimited amounts of a country's government bonds, reducing its borrowing rates, if it tapped a European aid program.

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