Arab Today, arab today ecb compromises with germany over quantitative easing programme
Last Updated : GMT 21:55:33
Arab Today, arab today
Arab Today, arab today

ECB compromises with Germany over quantitative easing programme

Arab Today, arab today

Arab Today, arab today ECB compromises with Germany over quantitative easing programme

A sculpture featuring the EURO logo
London - AFP

The European Central Bank will introduce quantitative easing next week but in a manner that shares risks among all eurozone nations, following concerns from Germany, the Financial Times reported Saturday.
The ECB holds its first policy meeting of the year on Thursday and is widely expected to announce some sort of programme of sovereign bond purchases -- or QE -- to try to kick-start the eurozone's sluggish economy.
Germany is concerned such a programme would take away the pressure on governments to push through tough economic reforms, and could leave German taxpayers footing the bill if another country is unable to pay its debts.
The FT reported that, in a compromise move, "the most likely option at this stage (is) for the ECB to force the 19 national central banks that make up the eurozone to stand behind their own sovereign bonds".
German news magazine Der Spiegel reported on Friday that national central banks would only be allowed to buy the sovereign debt of their respective countries, to ensure they alone carried the risk of a possible default by their government.
The weekly said that ECB chief Mario Draghi had presented the scheme to German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble in a meeting on Wednesday.

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