Draghi Says ECB Bond Purchases ‘Limited,’ Pushes Fiscal Union |
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December 1st 2011
Dec. 1 (Bloomberg) -- European Central Bank President Mario Draghi said the bank’s bond-purchase program “can only be limited” and that “a new fiscal compact” in Europe will be a better way to stop the region’s debt crisis.
Dec. 1 (Bloomberg) -- European Central Bank President Mario Draghi said the bank’s bond-purchase program “can only be limited” and that “a new fiscal compact” in Europe will be a better way to stop the region’s debt crisis.
While the ECB is buying bonds to improve the “transmission mechanism” in bond markets, “such interventions can only be limited,” Draghi said in an address to the European Parliament in Brussels today. “A new fiscal compact would be the most important signal from euro-area governments. It would also present a clear trajectory for the future evolution of the euro area, thus framing expectations.”
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