TOKYO Dec 3 The European Central Bank's scheme
to purchase government debt from euro zone countries is an
important tool to ensure the proper functioning of monetary
policy and to dispel fears of a breakup of the currency zone,
ECB governing council member Christian Noyer said on Monday.
Noyer, who is also head of the Bank of France, said the
scheme, known as Outright Monetary Transactions (OMT), could
only be enacted if a euro zone country had negotiated a bailout
and agreed to structural reforms, and this would bolster
confidence in the euro zone.
Noyer, appearing at a seminar in Tokyo, also said it is
ultimately up to governments to enact lasting solutions to the
continent's three-year old sovereign debt crisis.