European Central Bank (Photo credit: kumbarov)Spain has once again brought the focus of the markets on the continuing eurozone crisis as yields continue to climb an Spanish ministers are calling for more bond purchases. In an article on Bloomberg we read that: A Spanish minister called on the European Central Bank to do more to stem the sovereign debt crisis as the cost of insuring the country's bonds against default surged to a record.
"They should step up purchases of bonds," Jaime Garcia-Legaz, a deputy minister in Luis de Guindos's Economy Ministry, said yesterday in an interview.
"If you're demanding ultra-restrictive fiscal policies from Spain and Italy then it makes sense to have monetary policy with stronger bond purchases," said Garcia-Legaz, a former secretary general of the Faes research institute that's linked to the ruling People's Party.
Average net borrowings from the ECB by Spanish banks climbed to 227.6 billion euros last month from Continue to read
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