Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Santander CEO Says ECB Should Be More Aggressive in Buying Debt

April 10 (Bloomberg) -- The European Central Bank should be more aggressive in buying up government debt to boost the region’s economy, Banco Santander 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 cpenty@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.