Cœuré said: "We've been very clear on the modalities of the OMTs. They are ready and we're not going to provide any more details".
The waiting game grinds on to see when (and it’s hard to find anyone who thinks it is an “if” rather than a “when”) Spain will apply to the EU’s rescue funds for a credit line that would allow the ECB to make use of its “outright monetary transactions” bond-buying programme. A repeated theme of the Spanish government has been to say it would like to know more details about OMT before tying itself fast to the fiscal conditions attached to a rescue programme.
In the interview, Mr Cœuré also touches upon the bank’s determination to suspend bond-buying during review periods and if a country breaks the conditions attached to its rescue programme.
Full blog with link to video (FT subscription required)
© Financial Times
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article