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Tue 12 Feb 2013

ECB President meets Spanish lawmakers

Mario Draghi

Wikipedia-World Economic Forum

President of the European Central Bank (ECB) Mario Draghi visits Spain upon the invitation of Spanish lawmakers, following his address to the German Bundestag in October to defend the bond-buying plan he unveiled one month before.

The bond-purchase plan (Outright Monetary Transactions program), which has yet not been used, has helped to lower Spain's borrowing costs. 

However, Spain must first ask for government aid in order for the ECB to activate the OMT program and buy its bonds.

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