Oct. 10 (Bloomberg) -- Joerg Asmussen, nominee to the Executive Board of the European Central Bank, said any leveraged form of Europe’s bailout fund shouldn’t be able to tap the ECB’s refinancing operations.
That “would be against both the letter and the spirit of treaty article 123,” Asmussen said during a hearing on his candidacy in the European Parliament today. He was referring to the legal prohibition on the ECB directly financing governments.
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