FT writes - Bailout fund should buy euro debt
A top European Central Bank policymaker has publicly backed the rapid use of the eurozone’s bailout fund to buy stressed sovereign bonds on the open market, saying such action could ease the “very severe strain” being felt by Spain and Italy.
Speaking to the Financial Times, Benoît Cœuré, the ECB executive board member who oversees financial market operations, also said a cut in interest rates was likely to be discussed at next month’s ECB rate-setting meeting, to help boost confidence. But he stressed that political agreement on fiscal integration was needed to tackle the eurozone’s underlying problems.
Print 18:27, 20 Jun 2012 - ECB - Source: FT
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