Market Vitals: ECB Bond Buying - Machiavelli Phone Your Office!

ECB Bond Buying: Machiavelli Phone Your Office!

The euro rose sharply today on the release of news the ECB will make unlimited purchases of government debt. In the Bloomberg story on this topic, as listed above, notice the last paragraph:

"Draghi will stress conditionality of the program tomorrow, with the ECB likely to stop buying the bonds of any government that fails to meet the conditions it agrees to when it signs up for aid from Europe's rescue fund -- a precondition for ECB action -- two of the people said."

A very smart friend of ours believes this is the quid pro quo from Germany in order for its agreement to allow the ECB to buy bonds and further expose the Bundesbank in the process...

Market Vitals | 5 September [] 2012 [] ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


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