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发表于 2012-9-6 10:49 AM
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from NY times
FRANKFURT — The European Central Bank said Thursday it had agreed on a framework for buying the bonds of troubled euro-zone countries on the open market in unlimited quantities, but set conditions that could delay action for weeks or longer.
Despite the many conditions and qualifications, the E.C.B.’s action took euro zone monetary policy into a new dimension. While the E.C.B. president, Mario Draghi, insisted that the central bank was not violating a prohibition on financing governments, it is effectively becoming lender of last resort to nations as well as banks.
“We will have a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area,” Mr. Draghi said at a news conference. “The euro is irreversible.”
As many analysts had warned, there will be no immediate help for countries, like Spain, that are hoping E.C.B. intervention in the bond markets could reduce their borrowing costs. The euro zone’s troubled countries want such relief in order to roll over their debts and get their economies moving again after two years of crisis.
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狗仔卡
发表于 2012-9-6 10:32 AM
