ECB, bond cure continues: 13,96 billion forfeited last week

The ECB continues to pour water on the flames of national public finances. Last week the Eurotower bought Eurozone government bonds for 13,96 billion, slightly more than those forfeited in the week before (13,305 billion). Frankfurt's interventions on the secondary bond market, resumed at the beginning of August, gave new breath to the central banks of Greece, Ireland, Portugal, Italy and Spain. In the first week after the reactivation of the program, the ECB had bought bonds for 22 billion, setting the record for a single week. Subsequently, the amount of purchases was progressively reduced to 14,3 and 6,51 billion, only to rise again last week.