There is more anticipation than for the World Cup final. After Statements by ECB President Mario Draghi, the whole of Europe and the markets of the whole world are impatiently awaiting the "unconventional" measures that the Central Bank will adopt to try to contrast the excessive difference between the yields of government bonds of the countries of the Eurozone. And this afternoon Christian Walnut, Governor of the Bank of France and adviser to the ECB, reiterated that the ECB is determined to intervene to contain the excessive spreads and should be ready to act very quickly.
“Have no doubts about the determination of the Governing Council and its ability to act within the terms of the mandate,” he declared in the French newspaper “Le Point”. But above all, investors need to reassure themselves why “the operations will be of such a volume as to have a strong impact on the markets” and the ECB is ready “to intervene very quickly, prioritizing shorter-term maturities”.
Noyer also underlined that the ECB leaves itself open the possibility of intervening with "substantial non-conventional measures" to resolve the sovereign debt crisis e continues to consider the option to purchase government bonds of countries in difficulty on the secondary market as "possible".
Meanwhile, declarations from the Minister of Education are coming from Italy Francesco Profumo, who wanted to specify that the Government has had "long discussions" on the possibility of requesting the activation of the European anti-spread shield, through recourse to calming purchases of government bonds by the European fund EFSF. "In our case", unlike Spain, "the memorandum of understanding would not require additional conditions", said the Minister. In any case, there is “still some time to discuss it. We'll see what the overall conditions will be, Profumo concluded.
