By The Associated Press

(AP) - BONDS A WAY: The European Central Bank's president, Mario Draghi, unveiled a new program to buy the government bonds of eurozone countries that ask for financial help.

BETTER RATES: The plan, which comes with a number of conditions attached, would help countries implementing economic reforms to raise money at more favorable rates on bond markets. That would help them finance their debt burdens, ultimately lowering the risk that they might default on their bond payments.

ON TARGET: Global financial markets cheered the plan _ stocks and some bonds rallied. The bond yields of Spain and Italy in particular fell sharply.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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