Aside from the controversial programme for crisis countries? The ECB is not forbidden from purchasing government bonds per se. A large-scale purchase of securities – whether issued by the government or the private sector – would only be considered in the event of exceptional risk. And this is really not something that I can see at the moment.
2  BIS central bankers’ speeches  The ECB has done much to buy time for the governments of highly indebted euro area countries with favourable interest rates, so that they can introduce reforms. By way of thanks, these countries now want to do away with the Maastricht Treaty and get further into debt?