Bundesbank slams idea of using ESM to buy government debt

bundesbank

The Bundesbank on Monday criticised plans to use funding from the permanent European Stability Mechanism (ESM), a €500 billion ($683.2 billion) bailout fund that will replace the temporary European Financial Stability Facility (EFSF) in 2013, to buy the bonds of troubled countries.

In its monthly report for February, the Bundesbank said using the expanded facility to buy the bonds of crisis-hit countries would further take the heat off private creditors. It would also further "burden taxpayers

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