ECB's Praet defends ‘innovative' OMTs
Risk premia associated with the fear of redenomination, as faced by the eurozone's weaker economies at the peak of the eurozone crisis, was a "more alien" challenge for central banks, according to European Central Bank (ECB) executive board member Peter Praet, who today said it required "a new approach" – namely outright monetary transactions (OMTs).
Speaking today at a conference in Lisbon, Praet, the ECB's chief economist, said OMTs were "the innovative instrument that we deployed to remove
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