[13] And a third conclusion, more specific to the euro area, is that any future decline in the pace of our asset purchases is unlikely to have much direct negative impact on emerging markets, given that flows have been very limited.
BIS central bankers’ speeches  1  The bonds were bought for monetary policy reasons. There is therefore a public interest. But even more important is the fact that, in the end, it is taxpayers’ money. It is our duty to protect the taxpayers’ assets. Moreover, we are not there to contribute to government financing by dispensing with claims.