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"I welcome the European Central Bank's decision to launch a programme of sovereign bond purchases under strict conditionality.
This courageous decision is a major step towards resolving the sovereign debt crisis and restoring the stability of the eurozone.
The ECB decision must not be treated as panacea. Its implementation must be accompanied by an active strategy for growth and jobs as well as sound fiscal policies and structural reforms.
A failure to resolve the eurozone's economic problems will throw more and more people into poverty and undermine their confidence in the European Union.
I share the ECB's view that the euro is an irreversible project."