ECB Urged to Buy Bailout Bonds; Rate Cut Won’t Aid Growth

Mario Draghi could end the search for an asset worth buying if he’d only turn to the euro area’s jointly issued crisis bonds.

That’s the analysis of Guntram Wolff, director of the Bruegel institute in Brussels, who is a frequent contributor to closed-door meetings of euro-area finance ministers. He proposes that the European Central Bank president tap a 490-billion-euro ($669 billion) pool of debt issued by agencies that include the region’s two bailout funds.