France’s Coeure Says ECB May Have to Step Up Bond Buying
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Benoit Coeure, France’s candidate for a seat on the European Central Bank’s Executive Board, put the spotlight on its crisis-fighting powers by saying the ECB might have to buy more sovereign bonds.
Coeure said any bigger ECB bond-buying program, which economists including Royal Bank of Scotland Plc’s Jacques Cailloux and Marchel Alexandrovich of Jefferies International say is needed to help save the euro, would continue to be aimed at ensuring monetary policy isn’t skewed by the region’s debt troubles. The ECB would decide “independently” on any such secondary-market step, he said.