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Backing for ECB
Source: Agencies |
December 15, 2010, Wednesday
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Print Edition
Print Edition
GERMANY would be willing to support the European Central Bank with more capital if the bank said that was necessary, a government official said - a step that would cement the ECB's finances as it tries to contain the continent's debt crisis.
Should the ECB ask eurozone governments to boost its capital base, it would be the first capital increase for the Frankfurt-based central bank in its 12-year history.
The bank's balance sheet has been strained over the past year as it has bought up bonds from governments with shaky finances such as Greece, Ireland and Portugal. The bond purchases, which drive down yields and stabilize bond markets, have been a key step in the easing of market turmoil in recent weeks.
Should the ECB ask eurozone governments to boost its capital base, it would be the first capital increase for the Frankfurt-based central bank in its 12-year history.
The bank's balance sheet has been strained over the past year as it has bought up bonds from governments with shaky finances such as Greece, Ireland and Portugal. The bond purchases, which drive down yields and stabilize bond markets, have been a key step in the easing of market turmoil in recent weeks.
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