Putting the Pep in PEPP

By Reza Moghadam LONDON – The European Central Bank’s €750 billion ($818 billion) Pandemic Emergency Purchase Program (PEPP) was hailed at its inception in March as the “big bazooka,” bringing welcome relief to bond markets in so-called peripheral eurozone countries such as Italy, Spain, Portugal, and Greece. But the ECB must strengthen the program to […]

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