ECB's Draghi to meet Spanish lawmakers February 12

FRANKFURT Wed Jan 30, 2013 12:40pm EST

FRANKFURT (Reuters) - European Central Bank President Mario Draghi will meet Spanish lawmakers in Madrid on February 12, an ECB spokesman said on Wednesday.

The lawmakers invited Draghi to visit them after he spoke to Germany's Bundestag in October to defend his bond-buying plan, which he unveiled last September.

The yet-to-be-used bond-purchase plan, dubbed the Outright Monetary Transactions (OMT) program, has helped lower Spain's borrowing costs. Spain has not yet asked for government aid - a condition for the ECB activating the OMT to buy its bonds.

(Reporting by Sakari Suoninen, writing by Paul Carrel; editing by Ron Askew)

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