I should like to cite a few examples. The European Central Bank’s Governing Council decides on the scope, the start, the continuation and the suspension of the intervention on the secondary markets. In addition, a minimum period is observed between the issue of a security on the primary market and its purchase on the secondary market.
Furthermore, any prior announcement concerning either its decision to carry out such purchases or the volume of purchases envisaged is precluded. There is therefore no certainty that government bonds will be purchased. What role does the European Central Bank see for itself in these oral proceedings in the light of this confirmation of its actions?