ECB reveals Italian dominance of emergency securities purchases

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The European Central Bank (ECB) has for the first time revealed the exact breakdown by country of its emergency bond purchases made under the Securities Markets Programme (SMP).

Data released yesterday shows that nearly half the €209 billion ($275 billion) purchased under the SMP was from Italy – €99 billion. This was more than double that of the next country, Spain, from which the ECB bought €43.7 billion. The central bank also bought €30.8 billion from Greece, €21.6 billion from Portugal and

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