Expansion / The weekly reported today-a preview of his upcoming edition-that “purchasing program of the ECB sovereign debt takes the form”
. central banks buy and maintain titles only their own countries according to the latest plans, notes Der Spiegel, published on Saturday. Draghi presented last Wednesday in his reflections Berlin German Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble. This measure should serve to prevent Germany from taking risks in other countries. The ECB wants to set a maximum volume limit market purchases 20% or 25% of the volume of state debt of a country. Greece may not participate in the program because your debt does not meet the minimum quality standards, according to the newspaper.
The Dutch governor of the Bank (De Nederlandsche Bank), Klass Knot, has been in favor of transferring the debt purchase program to national central banks.
“If each national central bank debt only acquires its own state, would be less danger that a redistribution of financial risks occur,” said Knot the German weekly.
“We must prevent the back door ECB balance sheet decisions should be reserved to the politicians of the countries of the euro area are taken democratically elected” Knot said.
If the national central banks implement the proposed program Draghi and the country itself accountable for the risk of the purchased debt, the ECB will make clear that “it is not monetary policy and fiscal policy “added
Information Expansion .
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