Purchases were not aimed at targeting specific yields and were fully sterilized to offset impact on the size of the Eurosystem balance sheet. •  The Outright Monetary Transactions announced last September to address unwarranted tail risks, allow for ex ante unlimited interventions, but are subject to strict conditionality (IMF/EU programme) to address concerns over moral hazard.
For example, 12 percent shares of PTCL were first sold to the general public in 1993-94 and it has been on the privatization agenda of every successive government since then.