The ECB is not considering expanding monetary stimulus so that, for the time being, and according to the position put forward by Luis de Guindos, vice president of the institution, it will not be necessary to expand the purchases of public and private debt approved to face the economic crisis caused by the pandemic, the Spaniard said in an interview with “Market News International”, quoted by the agency EFE.
De Guindos said that the emergency debt purchase program for the pandemic "is a temporary, temporary, tailor-made program to deal with the pandemic."
It is recalled that the ECB opted to purchase 1,35 billion euros of Eurozone debt by the end of June 2021 and, according to De Guindos, has more than half of that volume available.
“We haven't used up all the ammunition yet. We will extend the program until at least mid-2021 and, if necessary, we will be able to adjust and recalibrate it in the future ”, according to the ECB's vice president to“ Market News International ”.
"We have not yet made a decision and, in my opinion, it is not necessary to take one immediately," said De Guindos.
Despite the increase in daily cases of infection in several countries in Europe, which de Guindos has called growing at a worrying rate, the Spaniard believes that "most governments have rejected the idea of a confinement like that of March".
“It seems that we have entered a second wave of contagions, but perhaps the Governments have understood that a confinement as widespread as the one we had months ago would be a total disaster for the economy. Thus, governments are trying to combine the public health element of the pandemic with keeping economies open, ”said de Guindos.