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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.
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