European Central Bank president Mario Draghi announced a plan today to buy bonds and relieve market pressure on troubled eurozone countries. But will it work?

In China, manufacturing activity fell last month for the first time in almost a year, putting more pressure on Chinese officials to do something to stimulate the economy. Meanwhile in Europe, we learned this morning that manufacturing activity in the eurozone also fell last month, which will in turn put more pressure on the European Central Bank to do something about the ongoing crisis there.

What can the European Central Bank really do to help the euro and what obstacles might be in its way?

There's been more and more talk of the world economy slowing down. Still, the European Central Bank isn't changing its interest rate, and the Federal Reserve hasn't budged yet.