Patriot Games. Not only Germany. Now even France and Austria … – Wall Street Italian

Patriot Games. Not only Germany. Now even France and Austria … – Wall Street Italian

 
                 The plan submitted by the president of the ECB is not convincing. New cracks in the Governing Council.
             
 

                         

                         
                             Enlarge photo

The European Central Bank President Mario Draghi and number one on the Bank of France, Christian Noyer. What time is opposed to the plan for the purchase of ABS.

ROME (WSI) – Do not have to fight in a battle now settled only against the German rigor, played by Jens Weidmann, president of the Bundesbank and a member of the Governing Council of the ECB. Now Mario Draghi, President of the European Central Bank, will be met with Christian Noyer, a number of Central Bank of France and Ewald Nowotny, President of the Austrian Central.

statements (reported by sources reported by Bloomberg) of Noyer, increased to three the number of central bankers dissidents who oppose the plan for the purchase of asset-backed securities and covered bonds, the details of which were announced yesterday by Dragons .

Noyer, according to rumors, he said no to the plan, saying that it is an intervention that excludes the role of national central banks in its execution.

As a rule, in fact, the monetary policy decisions of the ECB are taken in a decentralized way: they are the central banks nationwide to be responsible for the operations that relate to the refinancing of banks and l ‘ purchase of financial instruments.

But in these cases, the ECB has decided to engage in the transaction of purchase of ABS external brokers.

For Nowotny, also, as well as Bundesbank President Weidmann, the program would involve too much risk to the financial statements.

                         VOTE FOR THE ITEM

                         
                                 Excellent

                             
                                 Very good

                             
                                 So, so

                             
                                 Poor

                             
                                 There are