Monti Seeks ECB Bond Purchases at Behest of Euro Fund, FTD Says
The bailout fund -- either the current European Financial Stability Facility or the permanent European Stability Mechanism -- would in return guarantee a portion of the ECB’s debt purchases against losses, the newspaper said, citing two unidentified euro-area officials.
The proposal will be discussed by euro finance ministers today in Luxembourg as well as the leaders of Germany, France, Italy and Spain tomorrow at a four-way summit in Rome, FTD said. Monti’s plan has so far been framed as the EFSF or ESM making such purchases with its resources, the newspaper said.
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