Although its pledge last August to purchase unlimited quantities of short-term government debt has calmed markets, activation of the ECB’s “outright monetary transactions” program is conditional on continued fiscal retrenchment.
A pesar de que su promesa realizada en agosto pasado de comprar cantidades ilimitadas de deuda pública a corto plazo calmó los mercados, la activación del programa de “transacciones monetarias directas” [“outright monetary transactions” program] del BCE está supeditada al continuo ajuste fiscal.