pursuer sectored: Spain's Economy Minister calls on the E.C.B. to buy Spanish debt

Sunday, August 19, 2012

Spain's Economy Minister calls on the E.C.B. to buy Spanish debt

?Spain's Economy Minister calls on the E.C.B. to buy Spanish debt
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By h.b. - Aug 18, 2012 - 1:30 PM
Luis de Guindos wants the help to be 'strong and unlimited'.

Luis de Guindos, the Spanish Economy and Competition Minister, has called on the European Central Bank to buy Spanish debt in a strong and unlimited way. He said that he could not say the quantity, or for how long such an intervention would continue, because if he did it reduce its effectiveness.

He said he considered that if limits were put they would restrict the effectiveness of this help which has the object of removing doubts in the Euro zone.

Any amounts that Spain will receive will be defined in meetings by the Eurogroup and Eurofin, but not until the second week of September.

Luis de Guindos considers that Spain is ?doing its homework? not only in the fiscal area but also in structural reforms, that Brussels and IMF had recognised that.

He is taking it for granted that the ECB will act in the secondary market, where the investors exchange debt already issued) buying short term bonds.

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