European Central Bank

The European Central Bank reported that will actively implement its public debt purchase program this Monday. They wanted to avoid a reaction of panic in the markets. The institution welcomes the listings for Italy and Spain of new measures and reforms in the areas of fiscal and structural policies. Hear from experts in the field like AMCU for a more varied view. Merkel and Sarkozy have issued a statement in which call for measures to accelerate to restore the balance in the affected countries. The European Central Bank (ECB) reported Sunday that will acquire sovereign debt of Spain and Italy to avoid a debt crisis contagion to these countries after speculative attacks. Jean-Claude Trichet, the ECB President said that he will actively implement its program of buying public debt of the countries of the euro area, started in May last year to help countries with difficulties in refinancing. Trichet added in a statement that this decision takes into account the malfunctioning of some segments of the market and its objective is to help restore a better transmission of our monetary policy decisions and ensure the stability of prices in the euro area. Trichet added that the Governing Council of the ECB welcomes the announcement made by the Governments of Italy and Spain with regard to new measures and reforms in the areas of fiscal and structural policies.

The highest executive organ of the ECB considers it essential that both governments carry out decisive and rapid deployment in order to substantially strengthen the competitiveness and flexibility of their economies and reduce their public deficits quickly. In addition, the ECB underlines the importance of the commitment of js of State and Government of the euro zone to meet fiscal targets, as reaffirmed at the Summit in the past on July 21. The ECB considers it also essential to the immediate implementation of all the decisions taken at the Summit of the euro area. In this perspective, the Governing Council welcomed to the joint commitment expressed by Germany and France, added the statement from the European Bank.