Serious Questions For Draghi On The OMT Program

November 27, 2013 | November 2013 Bond Updates

I flagged two weeks ago that while Ireland?s exit from its EU-IMF was a rare euro area success story, the fact that the country was exiting without a credit line in place from Europe?s bailout fund, the ESM, meant that it was not eligible for the ECB?s Outright Monetary Transactions (OMT) program. There have been some interesting developments since then on this issue that raise serious questions about how exactly OMT is supposed to work.

View more at: http://www.forbes.com/sites/karlwhelan/2013/11/27/serious-questions-for-draghi-on-the-omt-program/