ECB warns banks’ in­de­pen­dence un­der threat

Oman Daily Observer - - INTERNATIONAL -

NUSA DUA: The in­de­pen­dence of cen­tral bankers around the world is be­ing threat­ened by gov­ern­ments de­mand­ing mone­tary sup­port rang­ing from debt can­cel­la­tion to bond pur­chases and lower rates, Eu­ro­pean Cen­tral Bank Pres­i­dent Mario Draghi (pic­tured) said on Satur­day.

Italy’s two rul­ing par­ties had con­sid­ered ask­ing the ECB to for­give 250 bil­lion eu­ros (£225 bil­lion) of Ital­ian debt it owns dur­ing their coali­tion talks in May be­fore ditch­ing the idea in the fi­nal ver­sion of their govern­ment ac­cord.

“They’re ask­ing to change rates, (debt) can­cel­la­tion, they’re ask­ing them to do other things, buy bonds,” Draghi said at the In­ter­na­tional Mone­tary Fund’s meet­ings in Bali, In­done­sia.

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