Arab Today, arab today ecb meets to discuss new anticrisis measures
Last Updated : GMT 17:57:21
Arab Today, arab today
Arab Today, arab today

ECB meets to discuss new anti-crisis measures

Arab Today, arab today

Arab Today, arab today ECB meets to discuss new anti-crisis measures

Berlin - AFP

The European Central Bank sits down for its regular monthly policy meeting Thursday amid hopes it will unveil new measures to cure the eurozone\'s seemingly never-ending debt crisis. The ECB\'s decision-making governing council is to convene at the bank\'s Eurotower headquarters, with financial markets hoping president Mario Draghi will reveal details of a revamped programme to buy up the sovereign debt of eurozone countries. Nevertheless, analysts and ECB watchers warn against expecting too much from the meeting. \"Expectations for the ECB meeting are high, perhaps too high,\" said Marie Diron, senior economic adviser to Ernst & Young Eurozone Forecast. \"We do not expect a change in rates but we believe it is highly likely that the ECB will announce a resumption in its bond purchasing programme. What is not so clear is how the ECB will attach conditions to these purchases,\" Diron said. The ECB launched its contested Securities Market Programme (SMP) in May 2010 to help debt-wracked eurozone countries that were finding it difficult to drum up financing in capital markets. But the programme has fierce opponents, particularly in Germany, who argue the scheme, which has succeeded in bringing down the borrowing costs of crisis-hit countries, is tantamount to monetary financing, where the central bank prints money to pay off a country\'s debt. That is expressly forbidden under the ECB\'s statutes. There are also fears the measures will fuel inflation, ease the pressure on over-spending governments to get their finances in order and erode the ECB\'s independence. In the face of such opposition, spearheaded by Bundesbank president Jens Weidemann, Draghi is expected to attach new conditions to any new bond purchases. Speaking before the European Parliament\'s committee for economic and monetary affairs earlier this week, Draghi provided some hints as to what the revamped SMP might look like. He signalled that the ECB would limit the eligible maturities to a maximum of three years. Another condition might be that countries wishing to benefit would have to request a bailout from one of the eurozone\'s rescue funds, the EFSF or the ESM, to ensure they continue their reforms. The ECB has other tools at its disposal to help fight the crisis fires, such as a reduction in key eurozone interest rates. Since the crisis re-erupted late last year, the central bank under Draghi has brought benchmark borrowing costs down to an all-time low of 0.75 percent. Additional easing might be on the cards if the eurozone economy -- which already contracted by 0.2 percent in the second quarter -- weakens further. Nevertheless, economists are divided as to whether further rate cuts will be announced as early as this week. Natixis economists said they were expecting a quarter-point rate cut to 0.50 percent.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ecb meets to discuss new anticrisis measures Arab Today, arab today ecb meets to discuss new anticrisis measures

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday