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Sep 20, 2011

Cumulative ECB Government Bond Purchases

This graph from the Wall Street Journal shows the cumulative bond purchases (this policy is called the securities markets programme) by the Earopean Central Bank of the PIIGS countries. In the last few weeks (Italy and Spain under pressure) the ECB has already bought more government bonds than in the first two months it started buying government bonds (Greece under pressure) in 2010.

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