ECB’s Coeure’s: ECB’s new ‘OMT’ is key to eurozone price stability…
- The bond buying programme is compliant with the EU treaties, which the ECB is committed to in order to preserve Eurozone solidarity and preservation of the single currency.
- Programme will not fuel inflation, is not QE or monetary financing, and poses no risk to the ECB’s balance sheet
- Idea that central banks have unlimited capacity to print money is an illusion
- There no excuse for countries not to reform, governments must take action
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