Not sure why, but Bloomberg is re-running Draghi’s comments to the European Parliament from yesterday.
- ECB must buy bonds for euro’s survival
- Could buy bonds up to three-years maturity
- Buying short-dated bonds is not state financing, does not violate EU Treaty
- We have to rebuild the euro area
I guess yesterday’s comments were behind closed doors, so are leaking out in dribs and drabs, but this is not new news. Spanish and Italian debt has rallied sharply on the news already.
