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EU's Rehn: ECB step a "major service" to stabilize markets

Monday, September 10, 2012 - 03:31

Sept. 10 - Olli Rehn, the EU's top economic official, welcomed the ECB's pledge to buy government bonds if asked to. He also praised Greece for sticking to its tough budgetary reform programme.

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The European central bank's pledge to buy substantial quantities of government bonds and essentially saved the little has been met with great fanfare but will it work. I'm -- night by EU commissioner for economic and monetary affairs all the Iran mr. -- thank you for talking about just. Doesn't this plan essentially hinge and depend on Spain and Italy slowing the fight and seeking gave a room. See that's feeling so that it -- -- it to the system. Offensively and essential element of political currency crisis and so the new area. And that's why we have become that the ECB's safety system -- -- -- for us that the framework for political it's. And believes that these systems to countries themselves so it. It's being on the -- we do. Requesting its. Do you think this marks the beginning of the end of the crisis do you see light at end of the tunnel. I would not want to statement of either Spain or for it and equipment that -- Make a request for the use of these effective and to fixable instruments. Rather I would say that by defining. Frame vehicle. In dimensions of secondary market and the questions and political news -- the ECB has done a mix of services for. -- him market stabilizes and it it's clearly signaling their this pretty active he needed to and you face request to. And from the commission sent conceded that he supports these of course affects them and it's been treated to. They'll ought to in terms of you signing and monitoring political news if -- which there's been no request made yet. There's been no request made to yet emphasis. Program or predicted that this. Ultimate victory -- sections just to finish up on peace I'll be looking at -- Huffington restructure his debt again. If the country is about to become solvent. If taken a very important decisions. Question increases -- the -- 12 years. Increase is actually doing more on the -- decide to for instance and it's usually. Recognized and given credit for. It's. Peacefully for instructional tips marched -- -- round -- -- or three years which is -- A -- formidable. Production from its deficit to its -- been -- because of peace was barely meeting beyond its means that for so long. The next step he says to him. -- for the compulsion all the review some of commission ECB and to the Imus -- success that -- just -- it to a few days ago. For us. Quality -- Vick is more important than that -- you. I would expect that this city -- who we lost. Several weeks or so that. He can report to the -- remember states and to for the general public about that. Hope increases intensive to bring -- it's a program back on track. Mr. -- thank you very much. But was EU commission only event talking to Reuters the unrest sent to photo and Lake Como Italy I'm Jamie B -- this of Reuters.

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EU's Rehn: ECB step a "major service" to stabilize markets

Monday, September 10, 2012 - 03:31