ECB under German fire as ABS details emerge

By Tom Porter
25 Sep 2014

No sooner had European Central Bank president Mario Draghi outlined more details of the ECB’s proposed ABS purchases this week, limiting senior bond purchases to those eligible for repo, than German finance minister Wolfgang Schäuble was making doubly clear his country’s opposition to the plan.

Draghi explained further details of the ECB’s purchase programme, which he initially said would be forthcoming on October 2, during remarks to the European parliament’s Economic and Monetary Affairs Committee on Tuesday.

He confirmed certain expected features of the programme, including that the senior bonds bought by the ...

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