ECB buying sovereign bonds

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ECB buying sovereign bonds: why it doesn’t make sense for Spain

MADRID | By Julia Pastor | Mario Draghi has been saying he doesn’t rule out a sovereing debt QE: he reminded it at Jackson Hole, then at the European Parliament and in a euro summit in Lithuania on Thursday.  Markets are discounting those eventual state debt’s purchases. But do they make sense? Although the eurozone does not have a liquidity problem, analysts remind that the US didn’t either, and yet half of the QE3 went into govies.