ECB Policymaker Offers Hope

Investor's Business Daily
July 2012
Investors Business Daily;7/26/2012, pA01
2.� �A European Central Bank policymaker provided hope to indebted eurozone gov'ts when he said giving a banking license to the permanent bailout fund has merit. That would let it exchange bonds it buys for ECB cash, swelling its fin'l firepower without more funds from nat'l gov'ts. But ECB Pres. Mario Draghi has rejected the idea. Spanish and Italian yields still fell sharply.


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