Passing the Buck European Central Bank Wants to Unload PIIGS Bonds

During the crisis, the European Central Bank began buying up bonds from debt-ridden countries like Greece. Now the bank wants to transfer responsibility for those securities to the EU's euro rescue fund. Meanwhile, the parliamentary group of German Chancellor Angela Merkel's conservatives have issued a resolution opposing such bond purchases.
European Central Bank President Jean-Claude Trichet: The ECB is pushing for the euro rescue fund to take over the €77 billion in bonds from beleaguered euro zone countries it is holding.

European Central Bank President Jean-Claude Trichet: The ECB is pushing for the euro rescue fund to take over the €77 billion in bonds from beleaguered euro zone countries it is holding.

GEORGES GOBET/ AFP
dsl/SPIEGEL
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