Tagged ECB

The ECB enters a new era in monetary policy

The European Central Bank (ECB) is to start buying up sovereign bonds from 9 March. Its president, Mario Draghi, believes that the programme of unprecedented monetary stimulus in the Eurozone will succeed in stemming the threat of deflation in the region. Next week will see an enormous machinery set in motion for the purchase of public debt on a mass scale from the 19 countries in the monetary union. Known as quantitative easing (QE), this has now been renamed by the ECB as the Public Sector Purchase Programme (PSPP) and will consist of bond purchases up to €60bn per month.

Greece continues to be financed with the help of the European Union. Eurozone Ministers of Economy and Finance have approved the new package of economic measures presented to Brussels by Athens. This then paves the way to extend Greece’s bail-out. The spokesman for the European Commission, Margaritis Schinas, said that the proposals are “sufficiently complete” and are a “good start”. The same expression was used by Mario Draghi in a statement, however the ECB president added several ‘buts’. According to Draghi, what counts is the current memorandum.

© 2019 Katoikos, all rights are reserved. Developed by eMutation | New Media

Become a
Being up to date with Europe only takes a few seconds.
Your information will never shared with a third party.
logo
subscriber!
Get our periodical newsletter sent to your inbox!
I have read and agreed the Privacy Policy (required)
Become a
Being up to date with Europe only takes a few seconds.
logo
subscriber!
Get our periodical newsletter sent to your inbox!
Your information will never shared with a third party.
I have read and agreed the Privacy Policy (required)