ECB buys more eurozone bonds

5th September 2011, Comments 0 comments

The European Central Bank said Monday it bought 13.3 billion euros ($18.8 billion) of government bonds in the past week, double the amount of the preceding week.

In the week to Monday, August 29, the ECB bought 6.65 billion euros.

The ECB, as usual, did not specify which government bonds it had bought.

The ECB has bought 129.0 billion euros in eurozone government bonds since it first began such operations early last year as part of efforts to ease debt strains in the eurozone.

It resumed major purchases last month when renewed strains pushed Italian and Spanish borrowing rates to unsustainable levels.

On Monday, ECB head Jean Claude Trichet called for urgent application of the latest debt rescue measures for Greece, and spoke of "confederal" management of eurozone finances.

Trichet also said it was "absolutely imperative" to tighten up the monitoring of economies in the eurozone, in a speech against a background of renewed concern over the Greek and wider eurozone debt crisis.

© 2011 AFP

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