ECB determined to stimulate euro economy
Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have just learned the ECB (European Central Bank) will launch a government bond-buying programme which will pump hundreds of billions of new money into euro zone economy.
According to a recent announcement the ECB would buy government bonds from this March until the end of September 2016 in spite of opposition from Germany’s Bundesbank and concerns in Berlin that it could allow spendthrift countries to slacken economic reforms.
As ECB President Mario Draghi said, the new quantitative easing programme will pump 60 billion euros a month into the economy, taking into account existing schemes to buy private debt and funnel hundreds of billions of euros in cheap loans to banks.
It is estimated by September next year, more than 1 trillion euros will have been created.
In a recent press conference Mario Draghi also declared: “The combined monthly purchases of public and private sector securities will amount to 60 billion euros,” and specified as well: “They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation.”
The largest economies from Germany down will see more of their debt purchased by the ECB than smaller peers as bonds will be bought on the secondary market in proportion to the ECB’s capital key.
Draghi informed as well 20 percent of the asset purchases would be subject to risk-sharing, suggesting the bulk of any potential losses will fall on national central banks.
For jobs with some of the leading international consulting firms across the world as well as tier one multinationals, please contact Audit International on 0041 4350 830 95 or else email your current cv to email@example.com
402 total views, 1 today