The European Central Bank's plan to stabilize the euro by buying the bonds of financially stressed members of the euro zone faces several potential problems, the most important of which is that its purchases will subordinate the loans of other parties, according to an article on CNBC.

While the ECB has said that its purchases will not be senior to those of private buyers, CNBC argues that the central bank will have far more bargaining power than other purchasers. The advantage it holds could scare private buyers away from the debt of a country the ECB is supporting via its bond purchases.

The article also questions whether countries will be willing to admit they need the ECB support, and whether the ECB and nations in financial distress will be able to agree on austerity terms.