Governing council member Ewald Nowotny speaking in an interview with Austrian radio ORF today
Asset backed securities, or securitizations, aren’t junk bonds per se, so I wouldn’t reject it in general, but I do think that it’s decisive that there are stringent criteria for their quality
Nowotny’s stance against ABS at this time is well documented since the Oct 2 meeting, most recently on Thursday which Adam reported here
In the ORF interview Nowotny had his cards very close to his chest when asked whether he voted against QE
The vote in the governing council is secret and I stick to that, hence I can’t comment directly on my vote
We’ll take that as read that you did then Ewald.
Nowotny – rebel in the ECB ranks? Or the voice of reason?