21st Jun 2021

Central Bank ups bond purchasing over Christmas period

  • Despite light trading, the ECB is maintaining its bond purchasing vigilance (Photo: EUobserver)

The European Central Bank on Monday announced that its purchase of eurozone government bonds jumped to €1.121 billion over the past week.

The increase, almost twice the previous week's purchase of €603 million in government bonds, comes despite the low level of trading over the Christmas period, as Frankfurt maintains its eurozone vigilance in Frankfurt even amid turkey dinners and carols.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

Total government debt purchases by the ECB amount to €73.5 billion since it began a buying programme in May when the Greek government hit the wall in its attempts to sell public debt to investors.

The ECB debt purchase scheme is intended to ease pressure on government borrowing costs.

Despite the jump in the last week, purchases still remain far below the scale of similar actions in May, when the central bank was intervening with buys of sometimes over €10 billion each week.

Since the height of the Greek crisis, the purchasing programme had been significantly reined in.

However, with the return of eurozone turbulence, the ECB in December upped its public debt acquisitions.

Luxembourg tax scandal may prompt EU action

An investigation into Luxembourg's tax regime has uncovered how the Italian mafia, the Russian underworld, and billionaires attempt to stash away their wealth. The European Commission has put itself on standby amid suggestions changes to EU law may be needed.


Portugal vs Germany clash on EU corporate tax avoidance

Portugal's taking over the EU presidency puts the tax transparency law for corporations - which has been fought over for years - to a vote in the Council of Ministers. The resistance of the German government has failed.

Vietnam jails journalist critical of EU trade deal

A journalist who had demanded the EU postpone its trade deal with Vietnam until human rights improved has been sentenced to 15 years in jail. The EU Commission says it first needs to conduct a detailed analysis before responding.

Stakeholders' Highlights

  1. Nordic Council of MinistersNineteen demands by Nordic young people to save biodiversity
  2. Nordic Council of MinistersSustainable public procurement is an effective way to achieve global goals
  3. Nordic Council of MinistersNordic Council enters into formal relations with European Parliament
  4. Nordic Council of MinistersWomen more active in violent extremist circles than first assumed
  5. Nordic Council of MinistersDigitalisation can help us pick up the green pace
  6. Nordic Council of MinistersCOVID19 is a wake-up call in the fight against antibiotic resistance

Latest News

  1. Too soon to lift EU sanctions on Burundi, NGOs warn
  2. EU to wage economic war on Belarus dictator
  3. EU commission takes stand against Danish asylum law
  4. Air pollution in many EU cities 'stubbornly high'
  5. EU leaders discuss Turkey, Russia, migration This WEEK
  6. Pandemic exposed corruption in some EU health systems
  7. The European Court of Justice vs German Constitutional Court
  8. AstraZeneca must deliver 50m doses by September or face fines

Join EUobserver

Support quality EU news

Join us