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ECB buys Italian, Spanish bonds

08-16-2011 13:32 BJT

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The European Central Bank has confirmed that it purchased 22 billion euros of government bonds last week, in a bid to ease debt pressure on Italy and Spain.

The ECB fulfilled its promise earlier this month to repurchase eurozone government bonds to help debt-ridden countries using the single currency. So far the ECB has bought a total of 96 billion euros worth of the bonds. The ECB first began its buy-back program with Greek, Portuguese and Irish debt, and now has included Spanish and Italian bonds in the purchase roll.

The ECB is expected to continue with more bond purchases for the next few weeks in light of the new measures to step up intervention of the European Financial Stability Fund.

European Central Bank (ECB) president Jean-Claude Trichet .


A Euro sign sculpture is seen in front of the European Central Bank (ECB) headquarters in Frankfurt, Germany.

Editor:Li Wanran |Source: CNTV.CN

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