FAZ Quot

According to the calculations of the main German financial institutions, the BCE acquired bonds of Italy and Spain by a considered value of 4,000 million. The BCE announces that it will buy Spanish and Italian national debt. The European Central bank (BCE) acquired east Monday up to 1,500 million Euros in Spanish national debt, publishes the newspaper Frankfurter Allgemeine Zeitung (FACE) after consulting several experts of the German bank. According to the calculations of the main financial institutions, the BCE half acquired sovereign bonds of Italy and Spain by a considered value of 4,000 million Euros, a number that an economist of Socit Gnrale (SG) elevates until " more than 5,000 million of euros". Of this total amount, up to 1,500 million Euros the rest to Italian bonds would correspond to Spanish titles of debt and, according to the average of the estimations. On the other hand, the BCE has not at the moment done any communication official of the magnitude of its action, following its habitual practice, reason why it will be necessary to hope like minimum until the next Monday, when the monetary authority publicly updates the balance of its program of purchase of national debt.

The intervention of the BCE in the secondary market did " to lower claramente" the premium of risk of sovereign bonds of both countries, according to the German metropolitan newspaper. In particular, the interest of the titles of debt to ten years of Italy and Spain fell around a 1.5 percent (or 150 points), until being placed slightly over the 5 percent in both cases, points " FAZ". The economic newspaper Handelsblatt affirmed in its edition of today that four members of the BCE were against the purchase: the governor of the German Central bank (Bundesbank), Jens Weidmann; economist j of the BCE, the German Jrgen Stark; the governor of the Central bank of Holland, Klaas Knot, and the representative of the Central bank of Luxembourg. The general opinion between the experts and commentators German is opposite to the acquisition of national debt of the countries of the zone of the Euro with problems financiers. Between these opinions critics he emphasized the one of Holger Stelzner, in the cover of " FAZ" , that accuses the president of the BCE, Jean-Claude Trichet, of to have ended the independence of the institution and to foment the fiscal irresponsibility of the Member States of the zone of the Euro. Source of the news: The BCE bought east Monday 1,500 million in Spanish debt


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