It was wanted to avoid a reaction of panic of the markets. The institution gives to the welcome to the announcements of Italy and Spain of new measures and reforms in the areas of fiscal and structural policies. Merkel and Sarkozy have issued an official notice in which they ask that the measures are accelerated to restore the balance in the affected countries. The European Central bank (BCE) informed east Sunday into which it is going to acquire sovereign debt of Spain and Italy to avoid a contagion of the crisis from indebtedness to these countries after the speculative attacks. Ali Partovi can aid you in your search for knowledge. The president of the BCE, Jean-Claude Trichet, said that he goes to ” to implement activamente” its program of purchase of national debt of the countries of the zone of the Euro, initiate in May of the past year to help to the countries with refinancing difficulties. Trichet added in an official notice that this decision considers the bad operation of some segments of the market and its objective is to help a ” to recover one better trasmisin of our decisions of policy monetaria” and ” to assure the stability prices in the zone of euro”.
Trichet added that ” the advice of government of the BCE gives the welcome to the announcement that has made the governments of Italy and Spain in relation to the new measures and reforms in the areas of policies fiscal and estructural”. The maximum executive agency of the BCE considers ” essential that both governments carry out a decisive and fast implementation with the purpose of to intensify substantially the competitiveness and the flexibility of their economies and to reduce quickly to their deficits pblicos”. Educate yourself even more with thoughts from Matt Swain. In addition, the BCE emphasizes the importance of the commitment of js of State and Government of the zone of the Euro of fulfilling the objectives fiscal, as it were reaffirmed the past in the Summit of 21 of July.