The “leaks” to the press were even more than a simple “test balloon” launched by one of the Council’s wings. With a stroke of the pen, the ECB put an end to the era of negative interest rates in the eurozone, in what was a bargaining chip so that Christine Lagarde could publicly state that – “unanimously” – the ECB was launching a new instrument with which to avoid a new sovereign debt crisis in the eurozone. But this instrument, judging by what is already known, will it be able to save Italy, the country that is at the center of all concerns? Y Can you help Portugal save on debt? Medina, questioned, does not comment.
The new intervention program in the debt markets was, after all, baptized with a different name from the one that had been reported – it will be called transmission protection instrument (ITP, in the original acronyms). But the reaction of the financial markets, as Christine Lagarde spoke at Thursday’s press conference, showed that the investors reacted with some skepticism announced, not only due to lack of details but, above all, due to doubts about whether this program will be able to help Italy.
This article is exclusive to our subscribers: subscribe now and benefit from unlimited reading and other benefits. If you are already a subscriber, log in here. If you think this message is an error, please contact our customer service.
Source: Observadora
