Makes sense to use the OMT, the Austrian central banker says, to show that it is viable.
Wait, what? Doesn’t someone need to request aid before the ECB can buy bonds?
He also adds this stink bomb: The ECB will not automatically buy bonds if aid is requested.
Nowotny also says he supports changing ECB voting rights to better reflect countries risk burdens. Tht would be a tectonic shift in the European landscape. Good luck getting small countries (like Austria) to sign on for that idea.
The comments come in an interview in the Handelsblatt newspaper. Sounds to me as though ol’ Ewald has gone a bit rogue on us…
