Monday, August 6, 2012

Germany Govt Signals Approval Of ECB Draghi Bond Buying Plan

The German government on Monday signaled approval of the European Central Bank's plan whereby governments first need to apply for assistance from Europe's bailout funds and agree to associated conditions before the central bank will consider intervening in their bond markets.

 "ECB President [Mario] Draghi has made very clear in his remarks last week that politicians have primacy in the euro crisis," government spokesman Georg Streiter said at a regular press conference here. "The government has no doubt that everything that the ECB does will be in the framework of its mandate,

 Asad Khan
Financial Analyst  (CFB)