Santander CEO Says ECB Should Be More Aggressive in Buying Debt

The European Central Bank should be more aggressive in buying up government debt to boost the region’s economy, Banco Santander (SAN) SA Chief Executive Officer Alfredo Saenz said.

“It should be a little more aggressive in its monetary expansion and be more aggressive in purchases of public and private bank debt,” said Saenz, who helps run Spain’s biggest bank, at a banking conference in Madrid today. “It would have to do a stronger policy of European quantative easing.”

More than 800 banks borrowed more than 1 trillion euros ($1.31 trillion) from the ECB’s Long-Term Refinancing Operations in December and February as the central bank provided the region’s banks with unlimited funds to avert a credit crunch.

The three-year ECB loans are a “good step” though aren’t enough to provide a stable financial environment for banks, Saenz said. It’s also necessary for governments to meet commitments to the European Union to cut their deficits agreed with Brussels.

To contact the reporter on this story: Charles Penty in Madrid at

To contact the editor responsible for this story: Frank Connelly at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.