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ECB pandemic emergency purchase programme (PEPP)

  • 24-09-2020 1:30am
    #1
    Timing belt
    Registered Users, Registered Users 2 Posts: 3,567 ✭✭✭


    The ECB 750Bn pandemic emergency purchase programme (PEPP) have so far purchased 543Bn of assets (18 Sept) The majority of this has been public sector debt with Germany (24%) Italy (19%) France (15%) and Spain (12%) accounting for 70% of the assets purchased by the ECB.
    source: https://www.ecb.europa.eu/mopo/implement/pepp/html/index.en.html

    If there is a second wave will there be more shut downs and pandemic unemployment payments across Europe that additional funding will be required for?
    Have the countries done enough stimulus to keep keep business going?

    If more of either is needed countries will need to issue more debt to pay for it and is the 200Bn that is remaining in the PEPP enough?


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 13,710 ✭✭✭✭Geuze


    In June the PEPP was increased by 600bn, from 750 bn to 1,350bn.

    https://www.ecb.europa.eu/mopo/implement/pepp/html/index.en.html



    Note that the pre-existing APP are continuing:

    https://www.ecb.europa.eu/mopo/implement/omt/html/index.en.html

    Indeed, in March the APP was increased by 120bn.


  • #3
    Geuze
    Registered Users, Registered Users 2 Posts: 13,710 ✭✭✭✭Geuze


    These are the non-PEPP purchases:


    index_content.en_clip_image002.png?tyui


  • #4
    Geuze
    Registered Users, Registered Users 2 Posts: 13,710 ✭✭✭✭Geuze


    Here are cumulative APP purchases:

    app_cumulative_net_purchases-620px.png?tyui


  • #5
    Wanderer78
    Registered Users, Registered Users 2 Posts: 29,886 ✭✭✭✭Wanderer78


    Karwik wrote:
    Oh, that pandemic situation is so hard to the small business


    Ah shur very little of that money making it into sme's, they have to take on debt to do so, it's nuts, nothing stopping the government from giving them and us citizens money directly to spend in these businesses


  • #6
    Timing belt
    Registered Users, Registered Users 2 Posts: 3,567 ✭✭✭Timing belt


    Wanderer78 wrote: »
    Ah shur very little of that money making it into sme's, they have to take on debt to do so, it's nuts, nothing stopping the government from giving them and us citizens money directly to spend in these businesses

    Is that not what the pup payments are doing? Giving money to people impacted by covid.


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  • #7
    Geuze
    Registered Users, Registered Users 2 Posts: 13,710 ✭✭✭✭Geuze


    PUP, TWSS, EWSS, etc.

    Restart grants, etc.


    Massive public expenditure on income and business supports.

    All borrowed.

    At low cost thanks to the ECB PEPP.


  • #8
    Geuze
    Registered Users, Registered Users 2 Posts: 13,710 ✭✭✭✭Geuze


    Wanderer78 wrote: »
    Ah shur very little of that money making it into sme's, they have to take on debt to do so, it's nuts, nothing stopping the government from giving them and us citizens money directly to spend in these businesses

    https://enterprise.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/


    Billions spent directly on giving income supports to workers and firms.


  • #9
    Wanderer78
    Registered Users, Registered Users 2 Posts: 29,886 ✭✭✭✭Wanderer78


    Timing belt wrote:
    Is that not what the pup payments are doing? Giving money to people impacted by covid.

    You are indeed correct


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