The chief economist of the
International Monetary Fund (IMF) on Tuesday defended a plan by
the European Central Bank (ECB) to purchase asset-backed
securities (ABS), saying it "can make a difference". Olivier
Blanchard said that Europe has a problem supplying credit for
small- and medium-sized businesses, and this will help. The
program, announced by ECB President Mario Draghi, has created
controversy with some German officials saying they fear that it
will put taxpayers' money at risk.
ALL RIGHTS RESERVED © Copyright ANSA
