* ECB launches bond-buying program with new money
* Amounts to 60 bln euros a month together with existing schemes
* Program to run until end-September 2016
* National central banks to shoulder bulk of risk
* Euro tumbles in response
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The ECB has already cut interest rates to record lows and left its refinancing rate, which determines the cost of euro zone credit, at 0.05 percent.
Greece and Cyprus, which remain under EU/IMF bailout programs, will be eligible for the ECB program but subject to stricter conditions.
In practice, Greek debt does not currently qualify as another rule stipulates that a maximum 33 percent of the bonds issued by any country may be bought. The ECB and other euro zone central banks already own more than this, although they may start purchases once enough of their Greek bonds have matured to take the total below the 33 percent threshold.
Greece votes on Sunday in an election where anti-bailout opposition party Syriza is on track to emerge as the biggest party in parliament.
($1 = 0.8752 euros) (Writing by Mike Peacock and Paul Carrel. Additional reporting by Noah Barkin in Davos. Editing by Jeremy Gaunt and David Stamp)
