VOICED: World markets tumble on debt fears

The transcript discusses the global economic impact of overspending by Western governments, leading to a loss of investor confidence and a sell-off in stocks and bonds. It highlights the aftermath of the financial crisis, where countries found their treasuries depleted. The Eurozone's efforts to stabilize the economy, including saving Greece, are examined, along with the controversial role of rating agencies like Standard and Poor's. The European Central Bank's intervention by purchasing risky bonds from Italy and Spain is seen as a short-term solution to restore market confidence, but concerns about long-term economic stability remain.

What measures did the European Central Bank take to restore confidence in the market?

What challenges do governments face in balancing debt reduction and economic growth?