ECB resumes bond-buying scheme

The European Central Bank resumed on the 4 August 2011 buying government bonds and offering loans to the eurozone region’s banks in an attempt to relieve tensions in eurozone financial markets.

When the eurozone debt crisis erupted in May 2010 the ECB launched its securities market programme, under which it has acquired €74bn of bonds issued by the Greek, Irish and Portuguese governments. But the programme had been inactive since March 2011.

BBC News, 4.8.11: ECB offers more loans to banks and keeps rates on hold http://www.bbc.co.uk/news/business-14400774

ECB: Press Release, 4.8.11: ECB announces details of refinancing operations with settlement in the period from 12 October 2011 to 17 January 2012 http://www.ecb.int/press/pr/date/2011/html/pr110804_1.en.html

ECB: Press Release, 4.8.11: Introductory statement to the press conference by Jean-Claude Trichet, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt am Main, 4 August 2011 http://www.ecb.int/press/pressconf/2011/html/is110804.en.html

EUObserver, 4.8.11: ECB returns to markets to help Italy and Spain http://euobserver.com/9/32684

ESO: Background information: European leaders feel the strain http://www.europeansources.info/record/european-leaders-feel-the-strain/

ESO: Background information: ECB halts emergency purchases of bonds http://www.europeansources.info/record/ecb-halts-emergency-purchases-of-bonds/

EurActiv, 5.8.11: Crisis crashes holidays – leaders in urgent talks http://www.euractiv.com/en/future-eu/crisis-crashes-holidays-leaders-urgent-talks-news-506907

EUObserver, 5.8.11: World markets plunge amid worsening euro-crisis http://euobserver.com/9/32686

La Vanguardia, 5.8.11: ECB flies solo into the storm (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/837221-ecb-flies-solo-storm

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