€1 trillion rescue plan by EU central bank

"1. What is QE?

Quantitative Easing is a program of bond purchases by the ECB. The central bank buys government bonds to inject new cash in the economy. It is an emergency mechanism that is used very sparely. Because it is used so sparely and has such a big impact, it is sometimes referred to as "the bazooka."

2. How big is it?

The programme will reach a total of more than €1 trillion (£720 billion) in bonds. The ECB will buy the bonds on a monthly basis, starting today. Every month the bank will spend €60 billion (£43.24 billion). It is worth noting that this figure is much bigger than the one the market were expecting before the programme was announced. Prior to the announcement,analysts were expecting something in the range of €500 to €600 billion (about £400 billion).

3. How long will it last?

The programme is set to run until September 2016, for a total of 19 months. At the same time, though, the ECB has kept the door open to run QE "until the Governing Council sees a sustained adjustment in the path of inflation that is consistent with its aim of achieving inflation rates below, but close to, 2% over the medium term." Inflation rates are currently around 0% for the Eurozone, which is fighting deflation.

Read more: http://uk.businessinsider.com/5-things-to-know-about""

What does it mean for the people:
1) Things will get expensive. Petrol prices already risen more than 10% from Dec 2014.
2) Capital flee. This will further harm those eu banks which are short of cash.
3) Investor will delay investing or purchasing until euro hits rock bottom.
4) The ruling elite class get richer and the rest get poorer and more debts.