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2018-05-29

OMT, Italy and ELA

Outright Monetary Transactions
Under OMT, the ECB would make large-scale purchases of Italian debt, bringing yields down and ensuring the government can fund itself.

There is a catch: The country must apply for it, and must also go to the European Stability Mechanism, the euro area’s bailout fund. 

And an ESM rescue comes with conditions requiring economic reforms

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