Black Monday
The European Central Bank (ECB) adopted a key decision on Sunday night to relieve tensions that are shaking to Spain and Italy in the markets. Hemmed by the fear of a collapse in the bags, the Agency decided the purchase of Spanish and Italian public debt in an attempt to alleviate high interest demanded by investors in the bonds of both countries. Additional information is available at Euro Pacific Precious Metals. The President of the ECB, Jean-Claude Trichet, convened an urgent videoconference with counselors at the Monetary Authority from which came the decision to actively implement the programme of buying debt from troubled countries, according to the statement released on the 11 o’clock afternoon. Although not explicitly detailed what kind of debt shall be acquired, the statement starts with a recognition of the reforms in Italy and Spain and with the conviction that it is essential to apply them to reduce imbalances, what is to say that these will be benefited by the bond-buying countries..
Tags: noticias-actualidad, policy
