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Corona bonds were discussed on 26 March 2020 in a European Council meeting, but Germany and the Netherlands ruled out issuing such bonds. [34] [35] European Central Bank head Christine Lagarde, who plans (separately) to buy more than 1 trillion euros in bonds in response to coronavirus, urged the EU to consider issuing corona bonds. [35]
On 2 August 2012, the Governing Council of the European Central Bank (ECB) announced that it would undertake outright transactions in secondary, sovereign bond markets, aimed "at safeguarding an appropriate monetary policy transmission and the singleness of the monetary policy".
The first bonds of the European Financial Stability Facility were issued on 25 January 2011. The EFSF placed its inaugural five-year bonds for an amount of €5 billion as part of the EU/IMF financial support package agreed for Ireland. [23] The issuance spread was fixed at mid-swap plus 6 basis points. This implies borrowing costs for EFSF of ...
The Council of Europe is an official United Nations observer. [8] Unlike the EU, the Council of Europe cannot make binding laws; however, the council has produced a number of international treaties, including the Convention for the Protection of Human Rights and Fundamental Freedoms (European Convention on Human Rights, ECHR) of 1953.
Wim Duisenberg, first President of the ECB. The European Central Bank is the de facto successor of the European Monetary Institute (EMI). [7] The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). [7]
With bond spreads on Spanish and Italian government bonds set to increase, in order to reduce the borrowing costs, the ECB issued the resumption of its sovereign bond purchases. In November 2011, the European central bank launched the second instalment of its covered bond purchase programs CBPP2) to stimulate funding to credit institutions and ...
The European Covered Bond Council is trade association representing covered bond market participants including covered bond issuers, analysts, investment bankers, rating agencies and a wide range of other interested stakeholders.
The euro area crisis, often also referred to as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a multi-year debt and financial crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s.