–Adds Additional Comment On Need For EFSF To Be Able To Buy Bonds
FRANKFURT (MNI) – European Central Bank President Jean-Claude
Trichet on Thursday again urged Eurozone governments to quickly
implement the financial crisis rescue measures agreed at their emergency
summit in Brussels on July 21.
Rapid implementation of the agreement is needed so that the
Eurozone’s rescue fund, the European Financial Stability Facility, can
take over the ECB’s bond purchase programme, he said.
“It is fundamental for us that the EFSF can buy bonds as agreed,”
he said. “To have the EFSF up and running and able to intervene in the
secondary markets” is a “condition for financial stability to be
reaonably ensured in the euro area.”
Trichet declined to comment on the potential volume of future bond
purchases, simply pointing out that the bank had published figures on
August 12 showing it had bought E22 billion in the previous week, and on
Monday saying it had bought E13.3 billion last week.
[TOPICS: M$$EC$,M$X$$$,MGX$$$,MT$$$$,M$$CR$,M$Y$$$]
