Rus News Journal

Buying up of state bonds left ETSB the claim

Germans consider that Central Bank actions are wrongful

Group of claimants of Germany has addressed in the European court in Luxembourg with the requirement to check up legitimacy of purchase ETSB of state bonds of the problem countries of a zone of euro. ETSB subpoena not for the first time — in the middle of September the British authorities have challenged new requirements of the Central Bank to clearing chambers.

the Group of claimants of Germany has addressed in the European court in Luxembourg with the requirement to check up legitimacy of purchase ETSB of state bonds of Greece, Ireland, Portugal, Italy and Spain. The group is headed by the representative of social movement Europolis lawyer Markus Kerber. Claimants demand to check up also legitimacy of cancellation of a rating threshold for the Greek, Irish and Portuguese state bonds which ETSB accepts as guarantees. The official representative of the Central Bank has refused to comment on judicial claims of Germans.

last week ETSB has continued purchase of state bonds of the problem countries of a zone of euro. On Monday ETSB has informed that as of September, 23rd it has got bonds for the sum 3,95 mlrd euro. Thus, the total sum spent for purchase of state bonds, from the moment of program start in May of last year has made 156,9 mlrd euro. Only since August of this year for acquisition of Italian and Spanish state bonds ETSB has allocated 82,85 mlrd euro — more than half from program total amount.

Besides, it agree to the data of news agencies, ETSB considers possibility of renewal of purchase of mortgage bonds. This question will be discussed at session of operating council ETSB on October, 6th. Volumes of possible purchases were not discussed yet, is specified in messages. Against financial crisis ETSB, beginning since July, 2009, has bought within year of mortgage bonds and other provided obligations for a total sum 60 mlrd euro. Variants and other actions directed on the further liberalisation of the monetary policy are studied. Speech, for example, can go about renewal of transactions on refinancing with term one year.