Panic In Financial Markets Prompts More Bank And Government Bailouts

The ECB decided yesterday to buy more Spanish securitized private debt or ABS, corporate bonds or mortgage-backed securities and loans of various types, something that had never done before bonuses.

Bloomberg spread the news at noon, adding that the entity chaired byMario Draghi had given the order to buy French mortgage bondsmaturing in the short term at Societe Generale and BNP Paribas and various Spanish institutions whose names were not disclosed at the close editing.

The ECB did not disclose details about how much money was spent in these purchases or how much of the debt from each country was bought. In fact, neither Draghi nor any other ECB official confirmed that such an operation had taken place.

“It is true that the purchase plan was prepared,” said Daniel Pingarrón, from IG Markets. However, neither the time nor the amount to be spend had been officially divulged. But today, ECB authorities have done both.

For weeks, the news has always been a vague. Though it seems that buying ABS has definitively begun,” said Christian Torres, managing partner at Solventis.