The ECB is committed to Germany about buying … – Terra Colombia

The ECB is committed to Germany about buying … – Terra Colombia

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January 17, 2015 • 10:23

<-! - // // Updated 06/13/2014 at> <- // NAO & Eacute; BBC - INI // -> <- // Author Home // -> <- Author fim // // -> <- // NAO & Eacute!!!; BBC - FIM // ->

The European Central Bank (ECB), which arises launch a massive program of purchasing sovereign debt next week accepted the demand of Germany for not sharing the risk among all countries of the Eurozone, according to the Financial Times.

In principle, the ECB raised the implementation of a program of this kind, called of “quantitative easing” (QE) in governors meeting next Thursday, in order to fight deflation and to relaunch the European economy.

But Berlin fears that liquidity to countries could incite, mainly the southern states of the eurozone, slow reforms and believes that the German taxpayer risk having to show solidarity with foreign debts.

In this regard, according to British economic daily, the ECB and Germany have found a compromise so that the central banks of the 19 eurozone countries are responsible, each for their part, debt their own country.

Benoît Coeuré, member of the board of the agency, confirmed Friday in an interview with Libération newspaper that the institution will consider on Thursday a purchase of sovereign bonds.

“We must also decide whether the purchase will be on the debt of certain countries or whether it should be weighted on the entire euro zone,” the official said.

The German magazine Der Spiegel, meanwhile, reported Friday that the national central banks could only buy debt in their own countries, so that charge alone with the risk of failure of their governments.

The weekly said the ECB president Mario Draghi, had presented the proposal to the German Chancellor Angela Merkel and her finance minister, Wolfgang Schäuble, at a meeting last Wednesday.