Schaeuble opposed to long-term ECB bond buyouts

Buying bonds from ailing economies 'not a permanent mesaure'

Schaeuble opposed to long-term ECB bond buyouts

(ANSA) - Berlin, September 6 - German Finance Minister Wolfgang Schaeuble said Thursday that the European Central Bank (ECB) cannot buy up bonds from struggling governments indefinitely. In a closed-door meeting with leadership from his center-right CDU party, Schaeuble said bond buyouts cannot be considered a permanent measure, according to the German DPA agency, citing sources at the meeting. The ECB is meeting Thursday to discuss formalizing a mechanism to buy bonds in the secondary market to lower the borrowing costs of countries at the centre of the eurozone crisis, such as Spain and Italy.

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