Spain urges ECB bond-buying

CNC (China), 03.09.2012

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Spanish Prime Minister Mariano Rajoy has urged the European Central Bank to start its bond-buying program, in a bid to lower borrowing costs of debt-ridden countries.

In an interview with Bild newspaper, Rajoy says ECB's bond-buying plan shows "a determination to solve the problem". […]

Some experts worry that the ECB bond-buying is merely a painkiller, and it can't solve the major problems of the single currency union.

Soundbite: Janis A. Emmanouilidis, Senior Analyst of European Policy Center:

"The speculation about having a program or an instrument which will enable the ECB to influence the spreads by bond buying has relaxed the situation on the markets. But again this is only providing all of us and the euro countries time. It cannot get away with some of the major deficiencies of the common currency of the economic and monetary union. So, while the ECB is providing us with more time as it has also done in the past, EU governments especially euro countries governments will have to do their bid both at national and EU and euro level in order to get away with the structural deficit you have at national and at EU level and this is a task which is still ahead."

For the entire article see here.


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