Portuguese head breaks ranks, urges ECB bond-buying

Anibal Cavaco Silva, the President of Portugal, asked the European Central Bank in August 2012 to start buying bonds from eurozone countries affected by the financial crisis.

In his post on Facebook Mr Silva referred to the statement made by Mario Draghi, the chief of European Central Bank, that the EBC could start buying distressed bond but not before September 2012, saying that: 'Why not have the ECB start applying now to public debt securities from Portugal and Ireland the orientation announced by its president'.

• Primary Source

ESO: Background information: Memo: Statement by the EC, ECB, and IMF on the Fourth Review Mission to Portugal http://www.europeansources.info/record/memo-statement-by-the-ec-ecb-and-imf-on-the-fourth-review-mission-to-portugal/

ESO: Background information: Italy and Spain coy over rescue fund aid / Draghi seeks passage through minefield http://www.europeansources.info/record/italy-and-spain-coy-over-rescue-fund-aid-draghi-seeks-passage-through-minefield/

EUObserver, 31.8.12: ECB showdown on bond-buying plan http://euobserver.com/agenda/117389

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