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ECB’s Bini Smaghi Says EFSF Should Buy Bonds on Secondary Market

The European Central Bank renewed its call for politicians to empower Europe’s rescue fund to buy government bonds on the secondary market.

ECB Executive Board member Lorenzo Bini Smaghi said in an interview with Greece’s To Vima newspaper that it would be “useful” to allow the European Financial Stability Facility to buy bonds on the open market, according to a transcript published by the Frankfurt-based ECB today.