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Draghi: Don’t look at spreads, look at decreased fragmentation on financial system in euro area

Draghi: Don’t look at spreads, look at decreased fragmentation on financial system in euro area

Central Banks
Jamie Coleman
08/11/2012 | 13:53 GMT
  • Though not satisfied with financing conditions despite improvement
  • Necessary condition for OMT is ESM program. an ESM program is no guarantee that ECB will activate OMT
  • Welcomes Greek austerity vote; awaits budget vote on Saturday
  • ECB cannot do monetary financing
  • Emergency lending assistance (ELA) is not monetary financing

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