September 13, 2012 / 11:29 AM / 5 years ago

ECB bond plan not based on new measures - Visco

ROME (Reuters) - The European Central Bank’s plan to buy the debt of troubled euro zone states will not be conditional on new measures being passed in those countries but will depend on policy progress being made, Bank of Italy chief Ignazio Visco said on Thursday.

The conditionality of the plan is “not linked to a series of measures to be taken but to progress in a certain direction,” Visco told a seminar at the Roma Tre University.

The ECB agreed earlier this month to launch a new and potentially unlimited bond-buying programme to lower struggling euro-zone countries’ borrowing costs and draw a line under the debt crisis.

ECB chief Mario Draghi said it would only help countries that signed up to and implemented strict policy conditions.

Reporting By Giuseppe Fonte

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